Admiral Taverns has agreed to buy 18 freehold pubs from Marston’s to continue its expansion efforts.
Wet-run community pubs are scattered across the UK, including Dorset, Derbyshire and Yorkshire.
This acquisition takes Admiral’s total property holding to over 1,420 pubs, following the group’s purchase of 37 Fuller’s pubs for £18.3m in May this year.
Chris Jowsey, chief executive of Admiral Taverns, said: “The deal also highlights the positive momentum and real resilience we’ve seen in our industry, particularly in our wet-led community, as people have used their local pubs over the last few months to enjoy a summer of sport, with both the European Championships and the Olympics encouraging people to to visit
The sale follows Marston’s sales cycle. Last year the pub group announced plans to raise £50m by selling pubs to reduce debt.
In addition, Marston’s sold 19 pubs to Red Oak Taverns in May and sold 40% of its brewing joint venture with Carlsberg in July with the aim of creating a “fully pub-focused” company.
Marston’s was advised on the deal by Noel Moffitt, Christie & Co’s director of pubs and restaurants.
