The addition of NatWest introduces a second major banking partner alongside OakNorth, which has backed the business for nine years.
‘Deepen relationship’
NatWest has provided house banking services to Red Oak for several years, and the group said the timing was right to deepen the relationship as it enters its next phase of expansion.
Red Oak co-founder and chief executive Mark Grunnell said: “We are absolutely delighted that NatWest, a long-term supporter of Red Oak, has joined our lender group. Alongside OakNorth, with whom we have built a strong relationship over the past nine years, we now have two high quality banking partners who understand our business and are fully aligned with our future ambitions.”
OakNorth’s managing director of debt finance, Mohith Sondhi, said: “Red Oak has built an impressive, high-quality estate and has a clear and disciplined growth strategy. We are delighted to continue supporting the business and to welcome NatWest alongside us as a funding partner as Red Oak enters its next phase of expansion.”
Next stage of growth
Mark Porter, relationship director at NatWest, said: “We are proud to deepen our long standing relationship with Red Oak Taverns by supporting the business through this next stage of growth. The management team has a strong track record, and we look forward to working alongside OakNorth to help Red Oak realise its strategic objectives.”
Red Oak Taverns has been pursuing a strategy of targeted acquisitions and estate optimisation.
The group reported record sales last year and invested significantly in both capex and estate maintenance, while continuing to reshape its portfolio through acquisitions and disposals. In 2024, Red Oak acquired 19 tied tenanted pubs from Marston’s.
