Punch Pubs acquired by Fortress Investment Group
The deal sees Fortress Investment Group acquire 100% of the share capital with the current management of the owner of Punch Vine Acquisitions from Patron Capital Partners.
Punch’s business model, and its suburban and rural domain, has enabled it to overcome the current challenges of the pandemic, he says, culminating in the acquisition of 56 pubs from Young’s Ram Pub Company in July.
“This is very positive news for everyone involved with Punch, and we are extremely excited about the opportunity that lies ahead with Fortress Investment Group. Fortress is an extremely experienced investor who understands our company’s strengths and fully supports our strategic positioning and business plan, ”said Clive Lesser, CEO of Punch.
“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 a highly competitive market.
“I would like to take this opportunity to thank the Patron Capital and May Capital teams for the exceptional support they provided during their ownership of the business. Their support has been invaluable over the past four years, no more of course than during the pandemic. “
Fortress has been advised by Rothschild and Co (Senior Financial Advisor) and HSBC (Joint Financial Advisor) with Sidley Austin LLP providing legal advice.
Patron was advised by Barclays Bank PLC and Hogan Lovells.