Stonegate’s biggest deals: a timeline of the pubco

By Stuart Stone contact

- Last updated on GMT

Ever expanding: the acquisitions of Be At One and Fever Bars are the latest in a series of marquee deals by Stonegate
Ever expanding: the acquisitions of Be At One and Fever Bars are the latest in a series of marquee deals by Stonegate
Formed in 2010 by private equity firm TDR Capital to acquire 333 pubs from Mitchells & Butlers, Stonegate Pub Company has acquired 88 sites in the past six months – growing its portfolio to 772 sites nationwide.

We track the biggest deals in Stonegate’s near nine-year history in its rise to become the largest privately owned managed pub company in the UK.

Slug and lettuce

August 2010 ​– ​Backed by TDR Capital, Stonegate Pub Company was established and acquired 333 sites from Mitchells & Butlers in a £373m deal​ including Scream bars’ 52 sites.

June 2011​ – There’s been a merger. Eight months of discussion concluded as Stonegate Pub Company and Town & City Pub Company​ – the operator of Yates and Slug & Lettuce – merged to create a 550-site pub company under Stonegate’s name.

August 2013​ – Stonegate completed the acquisition of 13 Living Room sites from Premium Bars & Restaurants (PBR) in a deal thought to be valued at around £10m.

Bramwell

July 2014​ – OLIM Property, a property investment company led by former Liberal Democrat Treasury spokesman Matthew Oakeshott, acquired 15 freehold pubs let to Stonegate​ for £28.3m.

November 2013​ – Stonegate completed the acquisition of 78 sites from the administrators of Bramwell Pub Company​ – a deal believed to be in the region of £35m. The acquisition took Stonegate’s portfolio to 623 pubs.

February 2015​ – A 23-strong package of pubs let to Stonegate Pub Company was sold by its private equity backer TDR Capital to real estate investment company Mansford for around £30m. It was speculated at the time that Stonegate was gearing up for an IPO in late 2015.

June 2015 –​ Stonegate acquired 15 sites formerly owned by Scottish pub, bar and hotel operator Maclay Inns.

Maclay

September 2015​ – 53 pubs from Tattershall Castle Group’s 62-pub estate​ were acquired by Stonegate, which was the fourth-largest managed pub company at the time.

September 2016​ – Stonegate exchanged on a package of 10 JD Wetherspoon pubs​ – comprising sites in High Wycombe, north Finchley, Torquay, Berwick, Walton-on-Thames, Banbury, Cheadle Hulme, Hull, Reading, and Newquay. Following the deal, Stonegate’s estate numbered 664 venues.

December 2016​ – Stonegate acquired Walkabout brand owner​ Intertain for an undisclosed sum – adding 30 sites to its growing stable.

Walkabout 2

February 2017​ – Stonegate bought two pubs from JD Wetherspoon​ – taking its total acquisitions from the pub behemoth to 12 in four months – while also acquiring a trio of London pubs from Faucet Inn.​ The latter expanded the company’s portfolio to 693 sites.

June 2017​ – A collection of 13 pubs, operated by Stonegate on a leasehold basis, was sold for £23m​ by Coffer Corporate Leisure to BlackRock.

July 2017​ – Stonegate made a conditional proposal to acquire Revolution Bars Group​ on the basis of an offer price of £2 per share. Revolution had 50,000,000 ordinary shares in issue.

Bar and grill

September 2017​ – Stonegate Pub Company strengthened its property portfolio in London through the acquisition of the Sports Bar & Grill concept – taking its estate up to 703 sites.​ The buyout placed Stonegate in London transport hubs at Waterloo, Marylebone, Victoria, Farringdon and Canary Wharf for the first time.

Be at one

July 2018​ – Stonegate agreed the acquisition of Be At One​ – the operator of 35 bars across the UK - alongside the purchase of 15 London venues from Novus Leisure – both for undisclosed sums. Stonegate stated it would operate Be At One as a stand-alone eighth format alongside its wider portfolio.

January 2019 ​– Stonegate announced the acquisition of Bar Fever Ltd (Fever Bars)​ – which operates 32 venues comprising 29 bars, including concepts such as Fever Boutique, Zinc and Moo Moo, as well as three Bierkeller Bavarian pubs – and six sites from Novus Leisure – both for undisclosed sums.

July 2019​ - Stonegate agreed to buy pubco Ei​ Group – the operator of 4,000 sites – for £1.27bn making Stonegate the UK’s largest pub owner.

To find out more about pubs for sale, lease and tenancy visit our property site​.

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