Punch Pubs acquired by Fortress Investment Group

pub & bar

By BigHospitality

- Last updated on GMT

Punch Pubs acquired by Fortress Investment Group

Related tags: Punch pub, Public house

The 1,300-strong pub group Punch Pubs has been acquired by Fortress Investment Group.

The deal sees Fortress Investment Group acquire 100% of the share capital along with the existing management of Punch owner Vine Acquisitions from Patron Capital Partners.

Punch’s business model, and its suburban and rural estate, has enabled it to weather the ongoing challenges of the pandemic, it says, culminating in the acquisition of 56 pubs from Young’s Ram Pub Company in July.

“This is very positive news for everyone connected with Punch, and we are extremely excited about the opportunity that lies ahead with Fortress Investment Group. Fortress is a hugely experienced investor who understands the strengths of our business and fully buys into our strategic positioning and business plan,” says Punch CEO Clive Lesser.

“We welcome their ambition and commitment to work alongside the existing management team to invest in the business with innovation and capital to ensure our long-term success in what is a highly competitive market.

“I would like to take this opportunity to thank the teams at both Patron Capital and May Capital for the outstanding backing that they have provided during their ownership of the business. Their support has been invaluable over the last four years, none more so of course than during the pandemic.”

Fortress was advised by Rothschild and Co (lead financial advisor) and HSBC (joint financial advisor) with Sidley Austin LLP providing legal advice.

Patron was advised by Barclays Bank PLC and Hogan Lovells.

Related topics: Pub & Bar, Business & Legislation

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