Pub operator Red Oak taverns has acquired 18 pubs from brewers and pub operators Wadforth.
The group of 18 leased and tenanted pubs are all located across the south and south west of England, bringing the group’s portfolio to 179 pubs across the UK.
The acquisition follows Red Oak’s £42m refinancing of the business, allowing it to acquire more pubs.
Chris Welham, CEO of Wadwort, said: “We are delighted to co nfirm a sale has been agreed to Red Oak Taverns. The sale has involved all parties working closely together to cause minimal disturbance to the tenants and their business.”
Mark Grunnell, co-founder of Red Oak Taverns, added: “We are delighted to have secured this quality portfolio of pubs from Wadworth. We believe that the pubs and the licensees will benefit from Red Oak’s flexible approach to operating leased and tenanted pubs and from the £1m of investment we have planned for the acquired portfolio.
“Our focus has already turned to building strong relationships with our new tenant partners that are required to preserve the sustainability of these great British assets and the invaluable contribution they make to our communities.”