Red Oak Taverns has completed the acquisition of three tied tenanted pubs this week from Liberation Group for an undisclosed sum. The pubs are based in the South West of England and are operated by tenants under substantive agreements. This is the first portfolio acquisition for Red Oak since the major refinancing of the business in March.
The Horseshoes pubs in Blunham near Bedford has received a complete refurbishment inside and out by pub owners Red Oak Taverns. The family friendly community pub had been opened up inside, converting two bars into one open plan room with new décor, flooring, carpets, furniture, wood burning stove and upgraded bar. High bar seating and tables take advantage of what was an unused area. Outside the large garden has been renovated and now includes a large patio area with lit pergola and lots of seating as well children’s climbing frame and equipment.
The Old Shepherd in Chorleywood has undergone an extensive refurbishment with local hospitality operator Scott McGarvie. This traditional pub has all new furniture, décor, lighting and historic photos celebrating the local area. Outside is a wonderful south facing garden and the patio & decking areas have been revamped ready for the warmer weather providing for al fresco eating and drinking.
The community pub which sits on the edge of the market town near the river has a large garden and car park. The refurbishment includes new exterior signage, fully revamped toilets, complete redecoration throughout, new furniture and fixtures and fittings. Artwork displayed in the pub now celebrates the history and bygone days of the market town.
Red Oak Taverns has completed a recapitalisation of its business, providing significant additional capital to enable it to continue its ambitious acquisition programme. The transaction includes a debt refinancing with Hayfin Capital Management, a leading European credit investment firm with €23bn in AUM that has invested over €30bn of capital across more than 420 companies since its inception in 2009. The loan was provided via Hayfin’s Direct Lending strategy, which invests in loans to strong European middle-market companies as a long-term partner to support their organic and acquisitive growth ambitions.
Red Oak Taverns has made its first pub acquisition of 2022, The Vine in Worthing bringing its pub estate to 205.
Co-founder and Chief Executive of Red Oak, Mark Grunnell said, “Following the five portfolio acquisitions we completed in 2021, we are delighted to start our 2022 programme with the Vine pub. We are looking forward to welcoming the tenant partner of The Vine to the Red Oak business.
“We continue to focus on growing our pub estate through single and multiple pub package acquisitions to develop our pub business further”.
The Horse & Jockey in Widnes, operated by Debbie Topping has just received its second makeover by pub owners Red Oak Taverns. Following the new garden and outside bar being completed last summer, it has now received a six figure internal and external refurbishment.
The Kettlethorpe pub in Kettlethorpe, Wakefield has been transformed with a significant joint investment by pub owners Red Oak Taverns and tenant partner Joe Hudson. The recent renovation includes all new décor, fixtures and fittings and full external refurbishment with lighting, signage and garden improvements. Much needed work to the function room, toilets and kitchen have also been completed to this fantastic community local.
The New Harp Inn in the picturesque village of Hoarwithy, situated in the Wye Valley, an area of outstanding natural beauty in Hereford has frequently suffered from flooding due to a clogged up brook running through the pub gardens. Our intrepid operations team Jeff Dunn, (business development manager), Charles Stewart (project manager) and Nathan Audas (operations director) were challenged to become drainage and garden clearance experts for a couple of days.
Red Oak Taverns has completed the acquisition of eight free of tie pubs in Bristol from Euphorium Pubs Limited for an undisclosed sum. This makes it the fifth portfolio acquisition this year by the independent pub operator growing their estate to 208 pubs operating on a range of flexible agreements.