RedCat acquires The Coaching Inn Group
The latter operates 18 coaching inns across the UK and the acquired sites are mainly in historic market towns in areas such as the Cotswolds, Peak District, Leicestershire, Staffordshire and Cambridgeshire.
The Coaching Inn Group was founded by CEO Kevin Charity in 1996 and went on to secure investment from BGF in 2015 before it executed a growth strategy that included acquiring more than 10 sites in the past six years.
The latest deal grow’s RedCat’s portfolio to more than 60 sites, including the latest purchase as well as the 42 pubs from Stonegate earlier in the year (March) and the Lake District inn acquisition just this month (August).
Financial backing
The firm is backed by funds managed by Oaktree Capital Management and is focusing on quality retail and tenanted pubs, partnering with talented entrepreneurs.
The Coaching Inn Group CEO Charity and CFO Edward Walsh will continue to lead and run the business within RedCat while building its presence, scale and momentum
RedCat aims to help and support The Coaching Inn Group to continue its expansion across the nation and stated the combination of the two businesses alongside Oaktree’s funding will enable RedCat to rapidly expand within the UK pub hotels sector.
The Times has reported The Coaching Inn Group deal has about a £50m price tag attached to it.
Great opportunity
RedCat Pub Company executive chairman Rooney Anand said: “I’m delighted The Coaching Inn Group is becoming part of RedCat.
“It’s a business I’ve long admired and Kevin Charity is a class act. I look forward to building our pub hotels business and building our business together.”
The Coaching Inn Group chief executive Kevin Charity said he was excited at the prospect of being part of RedCat.
He added: “It’s a great opportunity to be part of an entrepreneurial venture and to work with such talented and seasoned pub executives.
“I’m confident with RedCat’s support, we can continue our momentum and grow our footprint of historic pub hotels.”
