Stonegate purchases Be At One with plans to continue expansion

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Drinks: Drinks
Location: UK
Other: Business, Venues

Stonegate Pub Company is set to acquire Be At One for a cool £50m.

The go-to high street bar chain will join the likes of Slug and Lettuce and the Australian-themed bar chain Walkabout in the Stonegate portfolio, which already contains nearly 700 venues.

Stonegate has said that it intends to run Be At One as a standalone business, with the chain’s management and operational team remaining intact. However, the purchase will see the Be At One’s founding directors Rhys Oldfield, Steve Locke and Leigh Miller stepping down from the company.

In May, Be At One announced that it intends to grow its 33-strong bar portfolio to over 70 locations in the next five years, with continued emphasis on bartending and service training. Last year the chain secured £20m in a refinancing deal to support this pursuit. Stonegate has indicated that it plans to go ahead with the Be At One’s plans for expansion.

In separate news, Stonegate has also taken the opportunity to snap up 15 Novus Leisure venues, including Bar Soho.

 

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