The sale of 111 pubs is due to complete next month, leaving leased operator Star Pubs & Bars with 1,100 pubs across the UK.
Heineken said the sale followed a review of its estate, with the aim of ensuring its portfolio of pubs has the right identity and profile for its brand.
Under the terms of the sale agreement, the brewer will continue to supply beer and cider to the 111 venues.
Core estate
“This sale frees up resources and enables us to focus on the core estate which has great scope for growth whilst continuing to showcase our cider and beer brands,” said David Forde, Heineken UK’s managing director.
“We regularly review our estate to ensure that our portfolio contains pubs that have the right profile for our business, and can continue to benefit from our long term investment.
“Seeking a respected and experienced trade buyer for the sale of these pubs was our preferred option and we are delighted to have achieved that ambition with Admiral Taverns. They will ensure commitment and continued investment in these pubs to drive growth and maximise their potential.”
Admiral Taverns’ chief executive Kevin Georgel added: “We are delighted to acquire these high-quality pubs, which are a great addition to the Admiral estate.
“This transaction is an indication of our intention to develop the Admiral business and reinforces our position as the country’s leading community pubs group. We look forward to welcoming these new licensees to Admiral, and to working with them and Heineken to ensure a smooth transition.
“We are confident that these pubs have a vibrant future, and that with our award-winning approach to supporting community pubs, we can help these licensees to maximise the potential of their businesses.”