UK-based community pub group Admiral Taverns has sealed an agreement to purchase 18 freehold pubs from Marston’s.
The deal is Admiral’s second acquisition of 2024, aligning with its strategy of profitable growth.
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The portfolio of 18 wet-led establishments stretches across the UK, with locations in counties such as Dorset, Derbyshire and Yorkshire.
Marston’s property director Andy Kershaw said: “This sale further demonstrates our objective to review our estate in line with our strategic goals.
“We have a long-term relationship with our colleagues at Admiral, and it is the perfect home for these pubs which align well with their business.”
The transaction increases Admiral’s total portfolio to more than 1,420 pubs, further enhancing its collection of community-focused venues.
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By GlobalDataChristie & Co senior director, Pubs & Restaurants’ Noel Moffitt, offered advisory support to Marston’s on the deal.
In May 2024, Admiral acquired 37 pubs from Fuller, Smith & Turner.
The acquisition bolstered Admiral’s presence in the southeast of England, increasing the group’s total number of pubs in the region to more than 300.
In 2023/24, the company allocated more than £38m for major renovations and sustainability improvements to pubs.
Admiral Taverns CEO Chris Jowsey said: “I’m looking forward to welcoming these licensees to Admiral Taverns and working together to grow these pubs as profitable small businesses and social hubs for their communities.
“We have a strong relationship with Marston’s and are delighted to make this acquisition, delivering against our strategy to grow our estate of profitable, community pubs.
“The deal also highlights the positive momentum and real resilience we’ve seen in the sector, particularly across our wet-led community estate as people have used their local pubs in recent months to enjoy a summer of sport with both the Euros and the Olympics encouraging people to visit.
“We remain optimistic that our licensee-centric approach, entrepreneurial licensees and high-quality estate continue to put us at the forefront of opportunities in our wider market.”
