Admiral Taverns has agreed to acquire 18 freehold pubs from Marston’s, continuing its expansion efforts.
The wet-led, community pubs are spread throughout the UK, including locations in Dorset, Derbyshire, and Yorkshire.
This acquisition will increase Admiral's total estate to over 1,420 pubs, following the group's purchase of 37 Fuller’s pubs for £18.3 million in May this year.
Chris Jowsey, chief executive of Admiral Taverns, said: “The deal also highlights the positive momentum and real resilience we’ve seen in the sector, particularly across our wet-led community estate as people have used their local pubs in recent months to enjoy a summer of sport with both the Euros and the Olympics encouraging people to visit.”
The sale follows a period of divestment for Marston’s. Last year, the pub group announced plans to raise £50 million by selling off pubs to help reduce its debt.
In addition, Marston’s sold 19 pubs to Red Oak Taverns in May and divested its 40% stake in a brewing joint venture with Carlsberg in July, aiming to create a business 'entirely focused on pubs.'
Marston’s was advised on the deal by Noel Moffitt, Senior Director of Pubs and Restaurants at Christie & Co.
