The five pubs included in the transaction were the Cherry Tree, Essex; the Dam Inn, Wakefield; the Grosvenor, Hanwell; the Meynell Ingram Arms, Burton-on-Trent and the Blue Bell in Rothley, Leicestershire.
It followed a recent agreement for the procurement of eight pubs from RedCat Hospitality earlier this year.
Punch said the latest acquisition supported its goal to operate quality community pubs while also helping RedCat grow its premium pubs-with-rooms business.
Quality acquisitions
The Burton-on-Trent pubco added it would continue to explore additional opportunities for quality acquisitions that complement its long-term growth strategy.
Punch CEO Andy Spencer said: “We are delighted to welcome another five pubs into the Punch family, each of which brings its own unique character, heritage and role at the heart of its local community.
“The Meynell Ingram Arms’ proximity to Burton-on-Trent is particularly meaningful for us. Punch has deep roots in the area and it’s always a pleasure to strengthen our estate close to home.
“As with all of our investments, these pubs represent an opportunity to work in partnership with passionate publicans, to invest for the long term and ensure each site continues to inspire those moments for its guests and the community.”
The Queensway Advisory team will provide their management services as the pubs and their teams transfer into the Punch business.
Next chapter
In January this year, RedCat Hospitality announced plans to exit its managed pub division to focus on its pub with rooms arm. It has since added seven sites to its Coaching Inn Group estate.
RedCat CEO Richard Lewis said this latest move formed the next step in the businesses strategy to strengthen its position as a leading operator of premium pubs with rooms.
“We’d very much like to thank the teams in each of the sites for all their hard work over the years, in making the businesses a success and wish them all the best for this next chapter,” he continued.
“We are confident that in Punch Pubs we have found the perfect new home for these high-quality pubs and that they will continue to thrive under the stewardship of the team there.”
