The merger is yet another chapter in Stonegate’s ambitious development strategy. The company was founded in 2010, when it acquired 333 Mitchells & Butlers outlets. Since that time, Stonegate has funnelled £350m into its estate, taking on a variety of branded pubs and bars including Walkabout and Yates.
The pubco’s portfolio included more than 765 outlets nationally before its deal with Ei. The addition of Ei’s sites has made Stonegate the largest pub group in the UK.
With restaurant and pub closures mounting over the past year, the acquisition is undoubtedly another way Stonegate is seeking to fortify its business. The company has commented that the deal will help them ‘compete effectively in what is expected to be a challenging operating environment’.
‘We plan to leverage our existing managed house infrastructure, portfolio of formats and access to capital and invest in the combined estate for the benefit of all stakeholders. We look forward to working with EIG and its publicans to support future growth and create stronger pubs at the heart of communities across the UK.’
Featured image: The interior of a Slug & Lettuce venue, owned by Stonegate