Revolution Bars Group has announced its board has received a conditional £100m acquisition proposal from the Stonegate Pub Company.
The cash offer of £2 per share is subject to ongoing discussions between the two, as Stonegate is currently undertaking a due diligence review.
In a statement issued by Revolution, it said: ‘there can be no certainty that any offer for the company will be made, nor as to the terms on which any offer might be made.’
Stonegate has until 5.00pm on 28 August 2017 to announce if it intends to make a firm offer or not.
Revolution declared that its announcement of the prospective deal was being made without the prior agreement or approval of Stonegate.
Stonegate has acquired a number of brands in recent years, including Walkabout operator Intertain in December, and three sites in February from Faucet Inn.