Rooney Anand pub company RedCat poised for maiden acquisition
Sky News reports that RedCat Pub Company is on the brink of buying approximately 40 sites from Yates's and Slug & Lettuce operator Stonegate.
The deal could be completed as early as this week, and is awaiting the approval of the Competition and Markets Authority (CMA).
Stonegate agreed with the CMA that it would offload 42 sites as a condition of its 2019 takeover of Ei Group, as a solution to competition concerns.
If completed, the transaction will give Anand a foothold back in the British pubs industry..
It was reported back in January that Anand, who left Greene King in 2018 having led the pubco for 14 years, had raised £200m from US investment fund Oaktree Capital to invest in Britain’s pub industry, betting on the prospects of a post-pandemic recovery for the sector.
Former New World Trading Company CEO Chris Hill is heading up RedCat Pub Company, with Sharon Badelek, formerly of Novus Leisure, joining as chief financial officer.
RedCat has said its objective is to partner with talented licensees, publicans and entrepreneurs to support the recovery of the pub sector.
It is looking to acquire quality retail and tenanted pubs across the UK, but predominately focused on the East, South East and South of England.
