TDR Capital denies interest in TCG estate

27-Jan-2011 - Last updated on 11-Mar-2017 at 19:23 GMT

Stonegate: owned by TDR Capital

TDR Capital, the owner of 333-strong Stonegate Pub Company, has denied rumours that it is looking to acquire TCG.

Sources close to private equity firm TDR Capital, the owner of 333-strong Stonegate Pub Company, have denied rumours that it is looking to acquire TCG.

A TDR source said: "TDR is looking at everything, but there is no work going in with respect to TCG at the moment."

TCG operates 107 mainly high-street sites and is owned by fellow private equity player Alchemy Partners.

TCG was founded in 2005 with the acquisition of 178 Spirit pubs for £177m.

The company, a mixture of freeholds and leaseholds with mainly commercial landlords, is now focused on three primary market sectors — local pubs, young people's venues and "quality" venues.

TDR's denial of interest in TCG comes as work to merge with Town & City Pub Company "progresses well". Town & City's owners Commerzbank and Kaupthing have instituted a recruitment freeze as it looks at the merger plan.

It has also moved to separate the management of its La Tasca tapas chain from Town & City. Simon Wilkinson, the former Kout Food Group (KFG) and Paramount Restaurants executive, is taking the helm at La Tasca in February.