 Stonegate Pub Company is the largest privately held managed pub operator in the UK.
Stonegate Pub Company acquired an estate of over 330 pubs located throughout the UK from Mitchells & Butlers plc (“M&B”) in November 2010. This estate is primarily freehold-backed and consists of branded and unbranded sites in the following formats across the UK: Community Pubs, which are local pubs catering to neighbourhood customers; Town Pubs, which are high-street pubs; Bars & Venues, which are late-night bars and nightclubs; Scream bars, which are bars targeted at students; and other managed pubs. In June 2011 Stonegate merged with Town & City Pub Company Limited adding a further 230 UK pubs to its estate, including the Yates's and Slug & Lettuce brands.
Transaction
In November 2010 TDR acquired a portfolio of over 330 managed pubs from M&B, a UK public company. The investment in the estate was attractive for a number of reasons including the potential for operational improvement and as a platform to participate in industry restructuring. The estate acquired by Stonegate is intended to form the nucleus of a new pub and leisure group that plans to expand as the pub and on-trade industry undergoes re-organisation over the coming years.
In line with this strategy, in June 2011 Stonegate merged with Town & City Pub Company, creating the largest privately held managed pub operator in the UK with an estate of 560 pubs.
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