Admiral Taverns has agreed to purchase 150 community pubs from Heineken’s Star Pubs & Bars unit.
The company said today that the deal will take its estate from 800 to 950 venues. The estate is predominantly wet-led, with sites across England, Scotland and Wales.
‘We are delighted to announce another important step forward in our strategy and ambitions for the business,’ said Admiral’s chief executive Chris Jowsey. ‘Core to Admiral’s approach is our commitment to invest behind our pubs and licensees, supporting them to build vibrant social hubs that can thrive at the heart of their local communities.’
Financial details behind the agreement were not disclosed.
Admiral also announced this month that its headquarters have relocated to Chester to ‘better accommodate its expanding operations and support teams’.
Admiral's investors include Tennent's lager owner C&C Group as well as Proprium Capital Partners.