The deal, which is expected to complete in October, will take Admiral’s estate close to 1,000 pubs, and leave the Star estate at 1,100 sites.
A Heineken spokeswoman said the pubs were from across the Star estate but the majority are in the north, midlands and Scotland.
Heineken UK managing director David Forde said: “This sale frees up resources and enables us to focus on the core estate which has great scope for growth whilst continuing to showcase our cider and beer brands.
“We regularly review our estate to ensure that our portfolio contains pubs that have the right profile for our business, and can continue to benefit from our long term investment. Seeking a respected and experienced trade buyer for the sale of these pubs was our preferred option and we are delighted to have achieved that ambition with Admiral Taverns. They will ensure commitment and continued investment in these pubs to drive growth and maximise their potential. ”
Great addition
Kevin Georgel, Admiral Taverns chief executive, said: “We are delighted to acquire these high-quality pubs, which are a great addition to the Admiral estate.
“This transaction is an indication of our intention to develop the Admiral business and reinforces our position as the country’s leading community pubs group. We look forward to welcoming these new licensees to Admiral, and to working with them and Heineken to ensure a smooth transition.
“We are confident that these pubs have a vibrant future, and that with our award-winning approach to supporting community pubs, we can help these licensees to maximise the potential of their businesses.”
Read a comment on the deal by John Harrington, deputy editor of the PMA's sister title M&C Report (subscription required).