Former NWTC boss appointed at RedCat Pub Company
The Morning Advertiser’s sister title MCA reported RedCat has also appointed Sharon Badelek as chief financial officer, who was previously of Inspired Villages Group and Novus Leisure.
M7 Real Estate executive chairman Richard Croft as well as former Lord Mayor of London and PwC adviser Sir Charles Bowman have also joined as non-executive directors.
Strong bench
According to MCA, Anand said: “It speaks volumes about the fundamentals and potential for the sector that RedCat has been able to bring together such a strong bench of talent so quickly after the founding of the company.
“We are building something completely new and having the right mix of seasoned industry-leading experts and fresh talent is crucial.
“Sharon, Chris, Richard and Charles have exceptional track records and their highly complementary skills will help underpin our success, ensuring the pubs we buy, and operators we partner with, flourish.”
RedCat stated it is looking to partner with licensees to support the recovery of the pub sector.
This followed Los-Angeles-based business Oaktree backing the finances behind RedCat Pub Company, The Telegraph revealed.
No playbook
Anand, who headed up Greene King for 15 years until 2019 before joining Casual Dining Group as chairman, told The Telegraph: “There is no set playbook. I am not trying to recreate Greene King. I see myself as someone who’s investing in a sector that has been oversold, where people have taken cover and written it off and have been quick to say ‘it’s not going to recover’.
“I’ve always been a strong believer in the great British pub. It has survived the Blitz, the Great Plague and the credit crunch – always bouncing back and taking its rightful place at the heart of the community. There will always be a market for a decent pub.”
Last month (January), it was revealed Anand raised the £200m to invest in the pub sector and was set to embark on a series of acquisitions in the coming months with the backing of a then unnamed US-based private equity firm.
This figure is expected to increase to £500m with a further £300, in debt funding to be raised, reports have stated.
It was also revealed Oaktree, which has a near £110bn portfolio, will be looking to acquire individual businesses or operators, with a focus on south east pubs.
