Magners cider maker C&C on Monday became the latest brewer to buy up swathes of pubs, after it inked a £220 million (US$284.4 million) deal for Admiral Taverns.
Dublin-headquartered C&C Group, which is also behind Tennent’s lager, said it has teamed up with New York fund Proprium Capital to snap up the empire of 845 pubs from US private equity firm Cerberus.
The pair will collectively invest around £80 million (US$103.4 million), plus debt, to pay around US$240 million. Admiral’s management team — who remain in charge — will have a small stake.
The UK pubs are 95% freehold or long leasehold, and operate as part of a tenanted estate.
London sites include The Dutch House in Tottenham and The Lillie Langtry in Kilburn.
Full Content: Telegraph
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google Faces DOJ Antitrust Trial, Publishers Watch Closely for Impact on Ad Market
Sep 9, 2024 by
CPI
India Moves to Challenge Big Tech Power in Digital Markets
Sep 9, 2024 by
CPI
US Tightens Grip on AI: New Reporting Rules for Developers and Cloud Providers
Sep 9, 2024 by
CPI
EU Court to Decide Apple’s €13bn Tax Battle
Sep 9, 2024 by
CPI
Google Lawyer Kevin Yingling Joins Freshfields Amid Antitrust Fight
Sep 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
CPI
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
CPI
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
CPI
The Cost of Making COFECE Disappear
Sep 3, 2024 by
CPI