TRG said the addition of the sites was a significant strategic opportunity for the group.
TRG CEO Andy Horby said: “Expanding our pub estate is a major strategic priority for us and we are delighted to have this opportunity to add 10 high quality freehold pubs to our portfolio.
“We are confident the Brunning & Price team, under Mary Willcock’s leadership, will provide an excellent home for the hard-working teams from Oakman.”
Estate growth
The deal will grow the firm’s pub arm Brunning & Price estate of 79 to 89 pubs.
Brunning & Price CEO Mark Willcock added: “We have long admired Oakman Inns for the quality and character of their pubs and we are thrilled to welcome these pubs and the dedicated teams behind them into our B&P family.”
In November last year, Oakman sold two pubs to McMullen - the Rose in Wokingham, Berkshire and the Polecat, in Prestwood, Buckinghamshire.
At the time, the sale followed a review of strategic options available to Oakman.
Previous company announcements
Then, the company said the proceeds allowed repayment of debt that was maturing in January 2025 together with “providing additional capital to invest in Oakman for the foreseeable future”.
At the same time, the business also announced its draft financial results for its 2023-24 financial year.
The company said it had made strong progress throughout the period, ending the year with site earnings before interest, taxation, depreciation and amortisation (EBITDA) up 11.7% to £10.1m and business EBITDA up £1.6m to £4.5m.
Furthermore, April this year saw Oakman founder and chief executive Peter Borg-Neal step away from the business due to illness.
He shared he was fighting a rare form of cancer called Angioimmunoblastic T-cell Lymphoma.
