Admiral Taverns deal to snap up community pub rival Admiral Taverns has sealed a £222.3 million deal to snap up community pub rival Hawthorn. The move will see Admiral further establish its position as one of the UK’s biggest pub groups by purchasing Hawthorn and its 674 sites from retail property investor NewRiver. Admiral will expand to more than 1,600 pubs across the UK following a growth plan based on steadily acquiring drink-oriented pubs. FTSE 250-listed NewRiver has now exited the pub sector in a bid to focus on further growth within retail. NewRiver entered into the pub industry in 2013 before expanding with its acquisition of Hawthorn in 2018 for £107 million.
Investegate |NewRiver REIT plc Announcements | NewRiver REIT plc: Results of the AGM
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NewRiver REIT sells community pubs to Admiral Taverns for £222m | 26 July 2021
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Investegate |NewRiver REIT plc Announcements | NewRiver REIT plc: Proposed Disposal of Hawthorn Leisure REIT Limited
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