Admiral lines up £220m sale

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Drinks: Drinks
Location: USA
Other: Business

Admiral Taverns is gearing up looks set to be sold to a US investment fund for £220m, according to a report in The Times.

The company which has more than 1,000 pubs, is in talks with New York-based Proprium Capital Partners.

Admiral was acquired by Cerberus Capital Management in earl 2013, marking a three year ‘transformation’ of the business. The company has been seeking bids for the business in recent months.

Sky News reported in July that Patron Capital Partners, the private equity firm which bought 1,400 pubs owned by Punch Taverns, was seeking to purchase Admiral for around £200m.

The auction process is understood to be ongoing, with no deal yet confirmed.

About Author

Claire Dodd

As a freelance journalist, Claire has written about pretty much any topic you can imagine, from which are the best sausages, to how to flood-proof your home. However, her writing on drinks began when she landed a job as a features writer for the Publican magazine in 2007. Adjusting to a lifestyle of sampling the best drinks from around the world was tough, but someone had to do it. Having left the title in 2011, today Claire focuses on drinks and travel writing for both consumer and trade titles. Aside from searching the globe for the best drinks, and the nicest spots to consume them, she also judges global brewing competitions and keeps an eye on the business moves of the on-trade.

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