Acquisition of Admiral Taverns complete
On 4 September, the board of Admiral Taverns announced that it had reached an agreement with Proprium Capital Partners and C&C Group for the two businesses to "acquire in partnership with the Admiral management, the entire issued share capital of Admiral Taverns".
Today (7 December) the board confirmed that this transaction is now complete, providing the group with a "strong platform to support its ambitious growth plans".
A spokesman for the Admiral management team, led by chief executive Kevin Georgel, said it "remain invested" and continues to lead the business, building on its "proven growth strategy, which has seen Admiral cement its reputation as a leading operator of community pubs across the UK".
The move comes at the same time as Admiral completes on its acquisition of 17 pubs from Heineken.
Delighted
Georgel said: “I am delighted to welcome on board our new investors.
"This transaction positions our business for long-term growth, ensuring we have the right platform in place to continue the significant progress we have made over the past five years and take advantage of the opportunities within our markets.
“On 1 November we announced the acquisition of 17 pubs from Heineken, in partnership with G1 Group. This acquisition is early testament to our commitment to our growth strategy and with the sale of our own business now complete, we look forward to reviewing further appropriate opportunities as and when they arise.”
