National operator Stonegate Pub Company has acquired 10 pubs from JD Wetherspoon.
The pubs, stretching from Hull to Newquay bring the company’s estate up to a total of 664 businesses. Acquisitions in the towns of Torquay, Berwick-upon-Tweed, Banbury, Cheadle Hulme, Walton-on Thames along with the addition of a pub in Finchley, North London open up new trading opportunities for Stonegate whose presence is new in these areas.
Chief Executive Simon Longbottom (pictured) said, “We have a strong track record in picking sites that when we invest, and add a touch of Stonegate magic, we see positive customer reaction and strong returns. The acquisition of a further 10 sites from JDW enables us to extend our diverse range of formats in towns where we currently do not trade.“
Completion is expected within the next few weeks, which will see some pubs close for immediate investment as they transform into one of the company’s 7 trading formats. Further investment will be made in the remaining pubs over the coming months.
The full list of areas include: High Wycombe; North Finchley; Torquay; Berwick; Walton-on-Thames; Banbury; Cheadle Hulme; Hull; Reading; Newquay.