Former Tchenguiz directors' pubs deal

Mark Grunnell and Aaron Brown are believed to have bought 32 of the 37 sites that made up R&L Properties No.6 and are set to operate the sites through their vehicle Red Oak Capital Partners, which was registered at Companies House in June 2011. The sites were among the R&L outlets being marketed by Christie+Co.

It’s believed that approximately £8m was paid for the UK-wide portfolio of pubs and it is understood the sites are run under tenancy.

Brown and Grunnell were formerly directors of R20, Tchenguiz’s pub vehicle.

Brown was a key force behind Tchenguiz’s pub deals in the past decade, including the failed takeover of Mitchells & Butlers, which planned to split the group into an operating company and a pub company.

Brown was questioned by police in connection with Tchenguiz’s arrest last year as part of the Serious Fraud Office’s investigation into the collapse of Icelandic investment bank Kaupthing, a major lender to Tchenguiz.

Grunnell joined Tchenguiz in 2000 from his role as head of property at Commerzbank.

The R&L Properties companies were formed in 2007 and owned around 200 pubs. R&L Properties No.6 was placed in administration in August.
Christie+Co declined to comment.