Pub group in £ 100m deal
A COMMUNITY pub group headquartered in Solihull has been bought for £ 106.8 million.
London- based property investor New River has acquired Hawthorn Leisure which operates 298 pubs including the Last Orders chain.
New River said it had identified the pub sector as an attractive investment opportunity.
In 2013, it bought 202 pubs from Wolverhampton- based brewery and pub chain Marston’s and a further 158 venues from Staffordshire group Punch Taverns in 2015.
New River’s chief executive Allan Lockhart said: “The acquisition of Hawthorn Leisure is absolutely aligned with our strategy of investing in retail and leisure assets at the heart of the communities across the UK.
“The portfolio is highly complementary to our existing pub portfolio and the combined portfolio remains below 20 per cent of our total assets.”