Admiral Taverns buys Marston’s pubs portfolio

Proprium Capital Partners-backed Admiral Taverns has bought a portfolio of 18 freehold pubs from rival pub group Marston’s. The portfolio of 18 wet-led establishments spans the UK, located in counties including Dorset, Derbyshire and Yorkshire. The acquisition brings Admiral’s total estate to more than 1,420 pubs. The deal is Admiral’s second of the year, following its purchase of 37 pubs from Fuller, Smith and Turner in May. The chain has invested some £38m in new pubs so far this year. Philipp Westermann, partner at Proprium Capital Partners, said: “We remain confident in the significant opportunities for sustained long-term profitable growth at Admiral Taverns, which we look forward to continuing to support. “Since Proprium Capital Partners acquired Admiral in 2017, we have acquired over 1,000 pubs across the UK through several transactions and successfully invested into and grown Admiral’s award-winning high-quality estate of profitable community focused pubs.” Marston’s was advised by Christie & Co.