Admiral Taverns deal completes
C&C Group and Proprium Capital Partners have finalised their investment deal with Admiral Taverns, in partnership with Admiral Taverns’ senior management. The Dublin-based cider, beer and soft drinks maker struck a deal in early September to acquire a 47% stake in the pub firm.
On the 1st November, Admiral – on the back of the proposed deal – took over 29 pubs in partnership with G1 Group, from Heineken’s Star Pubs & Bars. Admiral was to manage 17 – in England and Wales – while G1 would manage the remaining 12 Scotland-based pubs.
Commenting on the announcement, Kevin Georgel, chief executive of Admiral Taverns said, “I am delighted to welcome onboard our new investors. This transaction positions our business for long term growth, ensuring we have the right platform in place to continue the significant progress we have made over the last five years and take advantage of the opportunities within our markets.”
G1 Group will now retain ownership of the 12 Scotland-based pubs.