Red Mist founders exit to create new pub company
Mark Robson, alongside fellow directors Mark Williams, Julian Clarke and Julie Phipps, have formed New Dawn Pubs following the completion of the sell-out of Red Mist Leisure to Red Lion Holdings.
Red Mist was originally founded by Robson and his fellow directors in 2004 and grew to 12 sites across Surrey and Hampshire. Red Lion Holdings took a majority stake in the business in January 2021 as part of an equity deal to grow the business further.
However, despite growing the estate from 10 to 12 under the new structure, with 11 currently operating, Robson and his team have now sold the remaining stake of the business to Red Lion Holdings and created New Dawn Pubs.
Investment plans
As part of the deal, New Dawn Pubs took four of the original Red Mist sites, including the Red Lion in Odiham, the Royal Exchange in Lindford, the Rose & Crown in Upper Farringdon and the Castle Inn, Farnham.
The company has also exchanged on a further “iconic” Surrey pub, although as yet unnamed, with plans to refurbish and open in early 2023.
The business also has plans in place to invest in the existing estate, the first of which is the Castle Inn, which will undergo a six week refurbishment in August to give it an updated identity.
Exciting opportunity
Robson, who is also chair of the BII, said: “We plan for all New Dawn Pubs to lead the way in design and authenticity and to offer a fantastic environment for our customers to enjoy quality food and drink in; somewhere they’ll want to return to for every occasion.
“We have great pride in what we have achieved previously, and this new pub is an exciting opportunity for us to create something new and wonderful for our guests.”
The founders said they were relishing the opportunity to have a smaller portfolio of pubs and were looking to focus on delivering a “quality product and service, a united, enthusiastic team, and targeted, sustainable growth”.
The as-yet unnamed acquisition is the start of a new growth plan for the new business, and the company will be looking to expand its collection of pubs in the near future, they added.
