Red Oak Taverns has acquired its second pub package of 2021 — ten leased and tenanted venues from Wells & Co.

Red Oak Taverns

The pubs are located in the Bedfordshire, Buckinghamshire and Northamptonshire areas and take Red Oak’s estate to 190 premises.

Co-founder and chief executive of Red Oak, Mark Grunnell, said: “We are delighted to secure a further portfolio of quality pubs to join our business. These pubs are a mix of rural destination food venues and community pubs, which are a perfect match for our business, and we look forward to welcoming the tenants and their teams to Red Oak Taverns.”

Peter Wells, managing director of Wells & Co, said: “We’re pleased to have found an excellent custodian for these pubs in Red Oak. We’ve worked closely with the Red Oak team to ensure the handover is as seamless as possible, and I’m confident these businesses will thrive under Red Oak.

“The sale enables us to focus on growing our managed sites, both in the UK and France, whilst leaving us with a quality portfolio of 170 tenanted pubs.”

Grunnell added: “Following this acquisition we are finalising terms for additional capital of £35 million to take advantage of immediate investment opportunities. The pandemic has, in some part, slowed our plans, but with the additional funding and an established and focused team, we are ready to take our business through the next phase of its evolution.”

Wells & Co were advised by Simon Chaplin, of Christie & Co, during the sale.

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