Red Oak Taverns is set to complete on the purchase of 17 pubs from St Austell Brewery’s leased and tenanted estate.
The deal includes sites across Cornwall, Devon and Somerset such as the Wellington (St Just), the White Hart (Launceston) and the Four Lords (Par).
Red Oak owns 212 pubs, primarily leased and tenanted, which are concentrated in the midlands, south, north west and south west of England. The independent business has already made several acquisitions in 2023, from companies including Everards, McMullen’s and Marston’s. Today’s purchase will further extend Red Oak’s south west footprint.
Mark Grunnell, chief executive, Red Oak Taverns, who co-founded the business in 2011 with executive chairman, Aaron Brown, said: “We are delighted that St Austell Brewery, a fellow independent business with a rich history of running great pubs, chose to work with us in selling these assets.
“We’re committed to the continued growth of our pub portfolio and this package of acquisitions will further strengthen Red Oak’s presence in the south west region.”
St Austell Brewery CEO, Kevin Georgel, added: “Red Oak Taverns is a committed and respected operator, with a growing pub estate and a strong track record of running successful wet-led community pubs. We’ve been working very closely with the team in the last couple of weeks to ensure a smooth transition for our licensees.
“Unlocking the full potential of our pub estate is a priority for us, as we continue to develop our business for the future. As part of our commitment to ongoing investment and growth, we are continuing to proactively manage our estate, aligned to our refreshed and focused strategy. This means ensuring all our pubs have a strong alignment with our long-term plans and continue to fit our focus in terms of market and consumer positioning.
“As a business, which is committed to supporting its tenanted partners and investing in its pubs, we are confident that Red Oak is the best possible custodian for these pubs and will ensure their ongoing success.
St Austell Brewery was advised on its transaction with Red Oak Taverns by Sapient Corporate Finance and Michelmores LLP with Freeths LLP acting for Red Oak.