The transaction is the third between the two firms in the past 15 months, bringing the total number of pubs acquired from Marston’s by Red Oak to 26 including four in January.
Third deal
Acquired pubs:
Bakers Arms, Dorchester
Berkeley Arms, Worcester
Blacksmiths Arms, Quorn
Bulls Head, Manchester
Cricketers Arms, Holmfirth
Cross Tree, Daventry
Feathers, Lichfield
Gate Inn, Ordsall near Retford
Inn on the Marsh, Moreton in the Marsh
Kings Arms, Horbury
Minster Inn, York
Monks Bridge, Stretton
Red Lion, Little Haywood
Round Oak, Wombourne
Royal Oak, Malvern
Star Inn, Tideswell
Summerhouse, Sedgley
Swan Inn, Worcester
Wheatsheaf, Shrewsbury
On this latest acquisition, chief executive and co-founder Grunnell said: “We are delighted to have completed the purchase of these high-quality pubs in a third successful deal with Marston’s.
“The ability to deliver, especially in times where the cost of capital is high, is crucial between any seller and buyer, and we have built a strong relationship with the Marston’s team.
"I would like to extend a special welcome to those tenant partners transferring over to the Red Oak Taverns family. Initial welcome meetings have already been held, and we look forward to developing investment plans together in the coming weeks.”
Strategic objectives
The sites cover areas including Holmfirth, Lichfield, Malvern, Manchester, Shrewsbury, Worcester and York.
Marston’s property director Andy Kershaw added: “We are pleased to complete this sale to Red Oak in line with our stated strategic objectives while matching a good partner for the long-term futures of these pubs and their operators.”
The transaction was facilitated by Christie & Co and Deloitte Legal, which acted on behalf of Marston's and Fleurets alongside Freeths, which acted on behalf of Red Oak Taverns.
Over the course of 2023, Red Oak, which was founded in 2011 by Aaron Brown and Mark Grunnell, procured 25 pubs across the country. Over the past 18 months, there have been deals with family brewers St Austell, Everards and McMullens.