HEINEKEN confirms sale of 111 pubs to Admiral Taverns

16th September 2014

HEINEKEN UK has announced that it has agreed to sell 111 pubs from its Star Pubs & Bars business to Admiral Taverns for an undisclosed sum.   The sale is expected to complete during October 2014.  Alongside the sale agreement, the two parties have agreed that HEINEKEN will continue to offer its market leading ciders and beers to these 111 pubs.

 

The agreement follows HEINEKEN’s regular review of its pub estate and stated ambition to build a portfolio of pubs that have a more specific identity and profile. Following completion of the sale, the Star Pubs and Bars business will comprise an estate of around 1100 pubs across the UK.

 

Commenting on the deal, David Forde, HEINEKEN's UK Managing Director, said: “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. 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. "

 

HEINEKEN recently announced an £18 million investment in its Star Pubs & Bars estate during 2014, through a programme of modernisation, refurbishment and product quality initiatives.

 

Kevin Georgel, Admiral Taverns’ Chief Executive Officer, commented: “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.”      

      

ENDS- 

 

Notes to Editors

About HEINEKEN in the UK

Headquartered in Edinburgh, HEINEKEN employs around 2,000 people. In addition to being Britain’s leading cider and beer business, HEINEKEN owns a nationwide pub estate through its Star Pubs & Bars business. We are passionate about our cider and beer brands and the outstanding service that we offer to our customers. Our unrivalled portfolio of brands includes Foster's, Heineken®, Strongbow, Desperados, Kronenbourg1664, John Smith's and Bulmers backed by a full range of niche and speciality brands.

 

About Admiral Taverns
Founded in 2003, Admiral Taverns is a Chester-based business with pubs located across England and Wales.  It operates a tenanted model: individual business people rent pubs from the company and in many cases are contracted to buy certain goods from Admiral as part of their agreement.  The addition of 111 pubs from HEINEKEN UK will take its estate to just under 1,000 pubs.  It currently employs around 20 business development managers, who serve as the main point of contact between the company and its tenants, and are expected to help tenants identify and implement business growth opportunities.  Admiral was named Pub Company of the Year in March 2013 at the Publican Awards, hosted by The Publican’s Morning Advertiser magazine.  More information about Admiral and the way that it works with tenants is available via the company website:  www.admiraltaverns.co.uk

 

For further press information, please contact:

For HEINEKEN UK:

Milly Hutchinson: +44 7966 112 965 /  +44 7810 204071

milly.hutchinson@heineken.co.uk

Charlie Armitstead,  Pendomer Communications: +44 203 603 5220

charles.armitstead@pendomer.com

For Admiral Taverns:

Mark Stretton, Fleet Street Communications: +44 7974 303657

mark@fsc.uk.com