Categories: Business

Punch-owners drink to £200m bid for pub chain Amber Taverns | Business News

[ad_1]

The owners of Punch Pubs are exploring a potential takeover of smaller rival Amber Taverns, a deal that would create a leisure group operating from nearly 1500 sites.

Sky News understands that Punch Pubs, which is owned by US-based Fortress Investment Group, is among a number of parties which has requested information on Amber from advisers handling a sale.

City sources said that other major UK pub operators including Heineken and Admiral Taverns, which is owned by Proprium Capital Partners, are also expected to examine bids for Blackpool-based Amber, although it was unclear on Thursday whether they would proceed to lodging formal offers.

The auction, which is being run by Sapient Corporate Finance, could command a price tag of about £200m, although intensifying fears of a recession and sharp consumer spending slowdown may dampen value expectations.

Inflationary pressures are having a severe impact on the hospitality sector although so-called ‘wet-led- pubs, which rely on the sale of drinks rather than food.

Amber is owned by MxP, an investment vehicle set up by Michael George, the former controlling shareholder in Weetabix.

The pubs group, which is concentrated in northern England, Wales and the Midlands, is also backed by Ares Capital Management.

It trades from about 160 pubs, which added to Punch’s 1300 venues would cement the latter’s status as one of the UK’s biggest pub operators.

Punch changed hands late last year, when Fortress bought it from Patron Capital Partners, a specialist real estate investor, for about £1bn.

Fortress declined to comment.

[ad_2]

Source link

admin

Recent Posts

What is the SCAR gun in Call of Duty? – Spaxton School

The SCAR-H is an assault rifle featured in Call of Duty: Modern Warfare 2, Call…

6 months ago

Is Warhammer Quest 2 multiplayer? – Spaxton School

Over the past two years, Warhammer Quest: Silver Tower has been an enjoyable single-player experience.…

6 months ago

Is the Mario mushroom edible? – Spaxton School

A very important note though, these mushrooms are poisonous so don’t eat them. Though they…

6 months ago

What is the latest version of eFootball? – Spaxton School

We would like to inform you that the v1. 0.0 update for eFootball™ 2022 (available…

6 months ago

What are the different light colors in PS4? – Spaxton School

When you press the PS button, the light bar will glow in a uniquely assigned…

6 months ago

Is it possible to miss Garrus? – Spaxton School

Garrus is easy to miss in the original Mass Effect. Shepard can recruit him after…

6 months ago