St Austell Brewery is selling 17 pubs in its leased and tenanted estate to Red Oak Taverns, with the deal set to complete on Tuesday (31st October).
The deal takes in sites across Cornwall, Devon, and Somerset. They are:
- Bettle & Chisel, Delabole
- White Horse, Launceston
- Radjel Inn, Pendeen
- Wellington, St Just
- New Inn, Park Bottom
- Dolphin, Exeter
- Western, St Austell
- Four Lords, Par
- Kings, Lostwithiel
- White Hart, Modbury
- Old Smithy, Ivybridge
- Dolphin, Grampound
- Cat & Fiddle, Exeter
- Holly Tree, Exmouth
- Racehorse, Taunton
- Windmill Inn, Williton
- Rolle Quay Inn, Barnstaple
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.
“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,” said Mark Grunnell, chief executive of Red Oak Taverns, who co-founded the business in 2011 with executive chairman Aaron Brown.
“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, said: “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.
“As a business, which is committed to supporting its tenanted partners and investing in its pubs, we are confident that Red Oak is the best possible custodian for these pubs and will ensure their ongoing success.”
