Pub group in £ 100m deal

Solihull News - - CELEBRITY WELLBEING -

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.”

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