Young’s explores potential sale of tenanted pub business
Thu, 20 May 2021 | BUSINESS SALE
Young & Co’s Brewery (Young’s) has hired property agent Savills to explore a potential sale of its tenanted division, which totals more than 50 pubs. Discussions are reportedly already underway with potential buyers, who would be set to acquire some of London’s most prominent pubs.
Young’s tenanted division is widely known as the Ram Pub Company. The business contributes around 5 per cent of the group’s total revenue, with the managed pubs division, which has around 200 locations, generating the majority of its turnover.
Following initial reports of the potential sale of the business, Young’s issued the following statement to the London Stock Exchange: “The Company confirms that Savills has been appointed and that it is in discussions regarding a possible sale. There can be no certainty, however, that any sale will proceed.”
The Ram Pub Company estate includes notable London pubs such as Boisdale of Bishopsgate in the City, the Calthorpe Arms on Grays Inn Road, the Grapes in Wandsworth and the Royal Oak on Regency Street in Pimlico.
In addition to its famous London pubs, the business also has a strong presence in Kent, East and West Sussex, Surrey and Middlesex.
The potential sale comes amid a wave of M&A activity in the UK pub sector, as operators prepare for the lifting of COVID-19 lockdown measures over the summer.
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