RedCat in advanced talks to acquire 39 Greene King sites in £90m deal
According to one source, the deal would see the pub group ‘double the size’ of its subsidiary, The Coaching Inn, by a number of sites
RedCat Pub Group boss Rooney Anand is reportedly in advanced talks with Greene King to acquire 39 of its pub-hotels in a £90m deal, according to Sky News.
Anand, who founded the RedCat Pub Group during the pandemic, formerly served as the chief executive of Greene King, stepping down from his role in 2019.
Sources revealed to Sky that the deal could be sealed within days. According to one source, the deal would see the pub group “double the size” of its subsidiary, The Coaching Inn, by a number of sites.
The Coaching Inn currently operates a third of RedCat’s 100-site portfolio. The pub group, which is backed by Oaktree Capital, has about 1400 bedrooms, making it the fourth largest pub with rooms operator in the UK.
News of the deal comes as hospitality leaders have warned about the sector’s outlook, citing steep tax increases and wavering consumer confidence.
Last year, RedCat secured a refinancing deal from Barclays after a small part of RedCat’s operations fell into administration.
RedCat and Greene King have been contacted for comment.
