Fuller, Smith & Turner will have 154 pubs within its Tenanted Inns Division upon completion of the deal. Credit: Gary L Hider / Shutterstock.

Fuller, Smith & Turner has agreed to divest 37 of its Tenanted Inns Division pubs in the UK to Admiral Taverns for £18.3m ($23.3m). 

Fuller, Smith & Turner’s community-focused, wet-led pubs are located across strategic areas including London, Surrey, Sussex and Hampshire.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The sale will enhance Fuller, Smith & Turner’s balance sheet significantly.

For the 52 weeks ending on 30 March 2024, the London pubs within the portfolio contributed £1.3m to the company’s pre-tax profits.

The acquisition by Admiral Taverns will increase its estate to 1,420 sites, with more than 300 pubs in the southeast region alone.

Completion of the deal is scheduled for 25 June 2024.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Post-sale, Fuller, Smith & Turner’s Tenanted Inns Division will consist of 154 pubs, complementing the 179 properties within its Managed Pubs and Hotels Division.

Fuller, Smith & Turner was advised by Sapient Corporate Finance for the deal.

Admiral Taverns CEO Chris Jowsey said: “Despite the complexities of the macro-economic environment, across our estate we are seeing community pubs, and specifically wet-led establishments, maintaining their popularity amongst locals as people continue to enjoy going out for an affordable treat with family and friends. 

“Wet-led, community pubs have demonstrated real resilience over recent times, and we remain optimistic that our nurturing ethos, entrepreneurial licensees and high-quality estate continue to position the group well to be at the forefront of opportunities in our wider market.”

In March 2024, Admiral Taverns re-opened the White Horse pub in Gosport, UK, following an investment of £239,000 on its refurbishment.