The deal, which was first reported in July, will see the pub community group add 674 pubs across the UK to its estate, taking it to over 1,600 pubs. It represents the latest step in the group’s growth strategy.
The purchase is funded through debt provided by Admiral’s current leaders, together with capital provided by existing investor, Proprium Capital Partners.
Chris Jowsey, chief executive of Admiral Taverns, said: “This is one of the biggest acquisitions by Admiral to date and marks a significant step forward against our strategy, allowing us to acquire an excellent portfolio of 674 pubs, which we look forward to developing.
“On behalf of the entire team at Admiral Taverns I would like to warmly welcome our new licensees and colleagues to the Group.”