The Board of Admiral Taverns, the UK’s number one community pub group, is pleased to announce that it has reached an agreement with Proprium Capital Partners and C&C Group plc for the two businesses to acquire in partnership with the Admiral management, the entire issued share capital of Admiral Taverns.
The Admiral management team led by Chief Executive Kevin Georgel will remain invested and continue to lead the business, building on its proven growth strategy which has seen Admiral cement its reputation as a leading operator of community pubs across the UK.
Champions of the tenanted business model, over the last 5 years Admiral has developed a high-quality estate of 845 predominantly wet-led pubs which sit at the heart of their local communities. Through its highly supportive approach and operational centric culture, the Group has worked hard to develop positive and progressive relationships with its licensees, built on mutual trust and respect.
In recent years Admiral has delivered a consistently strong operational performance across the estate which has been underpinned by its proactive investment programme and targeted acquisition strategy. The latter has seen the Group capitalise on opportunities in its markets, most recently acquiring and successfully integrating 111 pubs from Star Pubs and Bars in 2014.
Commenting on the announcement, Chief Executive of Admiral Taverns, Kevin Georgel said:
“Recent years have seen Admiral Taverns go from strength to strength and I am delighted that with the support of our new investors we will have the platform in place to continue our development and execute our growth plans.
Today, our nationwide estate of community pubs showcases the supported-tied model at its best. Through our distinct and award winning operational approach, our dedicated and passionate team have worked hard to build strong and enduring relationships with our licensees.
Our strategy remains unapologetically consistent and I look forward to working with the support of our new investors to continue to build on the significant progress the business has made over the last five years and take advantage of the opportunities within our markets, as and when they arise.”