NewRiver, one of the leading property investor, has confirmed it is currently in discussion to purchase the Hawthorn Leisure pub group, according to The Caterer.
Hawthorn Leisure was established in 2014 by purchasing 275 pubs from brewer and operator Greene King.
Responding to the rumours, NewRiver has issued a response confirming: “that it has entered a period of exclusivity with Hawthorn and its major shareholder regarding a potential acquisition of the business.”
“A transaction, if completed, would be funded from NewRiver's existing resources. There can be no certainty that a transaction will be concluded and a further announcement, as appropriate, will be made as soon as practicable.”
As stated by The Times, it is believed that the value of the sales could be between £115m and £135m however, no official number has been released yet.
