Red Oak Taverns acquires 17 pubs from St Austell Brewery

Red Oak Taverns has announced that it will complete the purchase of 17 pubs from St Austell Brewery’s leased and tenanted estate on 31 October 2023.

The deal includes sites across Cornwall, Devon and Somerset such as the Rolle Quay (Barnstaple), the White Hart (Launceston) and the Four Lords (Par).

Red Oak owns 212 pubs, primarily leased and tenanted, which are concentrated in the midlands, south, north west and south west of England.

The independent business has already made several acquisitions in 2023, from companies including Everards, McMullen’s and Marston’s.

Red Oak stated that the purchase will further extend its south west footprint.

Established in 1851, Cornwall-based St Austell Brewery– which remains an independent family business – owns 184 pubs, inns, and hotels across the West Country, including managed houses and leased and tenanted sites.

Last month, the company announced the acquisition of The Bath Pub Company.

St Austell Brewery was advised on its transaction with Red Oak Taverns by Sapient Corporate Finance and Michelmores LLP with Freeths LLP acting for Red Oak.

Mark Grunnell, chief executive of Red Oak Taverns, who co-founded the business in 2011 with executive chairman Aaron Brown, said: “We are delighted that St Austell Brewery, a fellow independent business with a rich history of running great pubs, chose to work with us in selling these assets. We’re committed to the continued growth of our pub portfolio and this package of acquisitions will further strengthen Red Oak’s presence in the south west region.

“It’s important to us that we ensure ongoing consistency for pub guests and our new tenants, and I would like to thank Kevin and the team at St Austell Brewery for working positively with us to effect a smooth transfer for these community assets. We’re looking forward to working in partnership with all 17 of our new licensees in this exciting new chapter, providing ongoing support to help their businesses thrive.”

Kevin Georgel, chief executive of St Austell Brewery, added: “Red Oak Taverns is a committed and respected operator, with a growing pub estate and a strong track record of running successful wet-led community pubs. We’ve been working very closely with the team in the last couple of weeks to ensure a smooth transition for our licensees.

“Unlocking the full potential of our pub estate is a priority for us, as we continue to develop our business for the future. As part of our commitment to ongoing investment and growth, we are continuing to proactively manage our estate, aligned to our refreshed and focused strategy. This means ensuring all our pubs have a strong alignment with our long-term plans and continue to fit our focus in terms of market and consumer positioning.”