Punch Pubs adds 14 pubs to estate

25-Sep-2024 - Last updated on 25-Sep-2024 at 08:37 GMT

Packages acquired: the deal includes (l-r, top row) Anchor Bexley, Lochside and Royal Oak, (l-r bottom row) Shield & Dagger, Vesper Gate and Vine

Punch Pubs & Co has added a total of 14 pubs to its estate after its acquisition of the Milton 1 & 2 portfolio from real estate investment company Aprirose.

The newly acquired sites, currently operated by Blackrose Pubs, means Punch will boost its total pub numbers, which sits at about 1,300.

This is a separate and additional deal to the Milton 3 acquisition (24 pubs), which completed earlier this year.

Punch group property director Stephen Allen said: “We are delighted to welcome these 14 fantastic pubs into the Punch family. This acquisition reflects our continued dedication to expanding and enhancing our portfolio.

Industry-leading resources

“We look forward to investing in these pubs and supporting them with our industry-leading resources, ensuring their long-term success. Key to this will be Queensway Advisory, which is providing management services as the pubs join the Punch business.”

Aprirose, together with its investment partners, acquired the pubs originally five years ago.

Aprirose CEO Manish Gudka added: “This sale aligns with our strategic goal of exiting our operational pub platform and reallocating capital towards new opportunities we are actively pursuing across several sectors with a range of investor partnerships.

“We appreciate the hard work of Blackrose Pubs in managing these assets and we are confident the pubs will continue to thrive under Punch’s ownership.”

Foster their growth

Blackrose Pubs CEO Daren Knipe said: “We have been honoured to work with some incredible people over the years as we have developed these pubs into what they are today. We wish the managers and their teams the very best for the future, and we’re confident that Punch will continue to foster their growth.”

The 14 pubs acquired by Punch are: the Anchor, Bexley; Shield & Dagger, Bristol; the Auction House, Coventry; the Lochside, Newcastle-upon-Tyne; Vesper Gate, Leeds; the Claro Beagle, Harrogate; the North Camp, Farnborough; the Village Inn, Swindon; the Vine, Uxbridge; the Wheatsheaf, Camberley; the Fox, Cambridge; the Woodlands, St. Helens; Game Cock Inn, Blackburn; and the Royal Oak, Bolton.

This deal takes Punch’s total acquisitions in the past 12 months to more than 50 pubs.