Punch Pubs & Co has added a portfolio of 14 venues to its estate – taking its total number of acquisitions in the last 12 months to more than 50 pubs.
The Burton upon Trent-based pub company, which has more than 1,300 sites in its estate, has acquired the Milton 1 & 2 portfolio from real estate investment company Aprirose.
Stephen Allen, Group Property Director at Punch, said: “We are delighted to welcome these 14 fantastic pubs into the Punch family. This acquisition reflects our continued dedication to expanding and enhancing our portfolio.
“We look forward to investing in these pubs and supporting them with our industry-leading resources, ensuring their long-term success. Key to this will be Queensway Advisory, who are providing management services as the pubs join the Punch business.”
The deal is a separate and additional one to the Milton 3 acquisition of 24 pubs, which completed earlier this year.
The newly acquired pubs are currently operated by Blackrose Pubs and were acquired by Aprirose five years ago.
Manish Gudka, CEO of Aprirose, said: “This sale aligns with our strategic goal of exiting our operational pub platform and reallocating capital towards new opportunities we are actively pursuing across several sectors with a range of investor partnerships.
“We appreciate the hard work of Blackrose Pubs in managing these assets, and we are confident that the pubs will continue to thrive under Punch’s ownership.”
The new additions are dotted all over the country and include Vesper Gate, in Leeds, The Lockside in Newcastle upon Tyne and Bexley’s The Anchor.
- In two other separate deals, Punch has also acquired The Straw Bear, a traditional-style pub in the Peterborough suburb of Whittlesey, and village pub the Grey Horses Inn in Carlton-in-Lindrick, Worksop.
