Stonegate acquires Walkabout operator Intertain

Stonegate Pub Company has reached an agreement with Better Capital to acquire Intertain, which operates 30 UK sites primarily under the Walkabout brand.

Stonegate is one of the UK’s largest managed pub companies, with 662 sites nationwide. The new acquisition brings that total to 692 operating venues, including 25 Walkabout venues.

Simon Longbottom, Chief Executive of Stonegate, said, “We are delighted to be acquiring Intertain which is a business we know well and which we have hand-picked for its complementary fit with our existing portfolio.

“This is another great acquisition for Stonegate. Intertain’s strong association with sport in high street locations is synonymous with Stonegate’s prowess in this market segment and further consolidates our position as the leading provider of sports-led entertainment in the high street pub and bar market.

“We look forward to welcoming the employees of Intertain into the enlarged Group and working with them to drive the ongoing success of the business as we continue to progress our dual growth strategy of inward investment in our existing estate and expansion via selective acquisition.”

John Leslie, CEO of Intertain, added, “I couldn’t wish for a better home for Intertain than within Stonegate. Simon and the team are excellent operators, know the business well and will continue to invest, enabling both the business and the talented people within it to realise their full potential.

“It is a great cultural fit with Stonegate’s growing portfolio and I look forward to seeing the business go from strength to strength.”

Over the last 24 months, Stonegate has acquired 78 sites from Bramwell in 2014, 15 sites from Maclay’s in 2015, as well as 52 pubs from Tattershall Castle Group that year.

The group has also exchanged on contracts to acquire 10 sites from JD Wetherspoon, with seven completed to date.

Formal completion of the deal is scheduled to take place on 7 December.

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