Valiant Pub Co buys 17 pubs from SA Brain in first acquisition
The purchase, which was for an undisclosed sum, took place through a partnership with special situations investment firm Njord Partners.
The company was formed by Gerry Carroll, Mark McGinty and James Croft at the beginning of this year (January).
The trio, who previously all worked together at Enterprise Inns and were instrumental in rolling out the company’s Beacon concept, are now keeping an eye for when the market starts to open back up.
At that time, Carroll said they were setting the operation up with their own funding, alongside investors, and are engaging with potential others. He said they were “poised and ready to go”, but added timing was key.
Company plan
The firm’s strategy is to develop a substantial community-focused pub business with the support of investment firm Njord Partners.
On the purchase, the co-founders said: “Both the formation of a partnership with Njord Partners and our first acquisition are most important first steps in building our new business.
“Valiant is committed to operating great quality, well-invested pubs in the heart of their communities.
“Valiant is currently building an acquisition pipeline and is seeking further suitable site. We are delighted to have partners with Njord Partners and look forward to working with our new pub teams to build a successful company.”
The transaction was straightforward, said SA Brain chief executive Jon Bridge, who wished Valiant and the pub teams all the best for the future.
Significant opportunities
Njord Partners co-founder and portfolio manager Arvid Trolle said: “We are excited to have partnered with the highly-experienced Valiant team and look forward to supporting future growth within the UK pub sector.
“Going forward, we believe there will continue to be significant opportunities to acquire and invest in creating high-quality pubs that are valued by their local communities.”
Last month (October), SA Brain put a 99-pub package, which is currently let to Marston’s Estates on 25-year leases, on the market.
The portfolio, which comprises of 93 freehold and six long-leasehold venues, is let to Marston’s Estates on full repairing and insuring leases with Marston’s PLC as a guarantor.
