​Punch Pubs & Co Expands Portfolio with Acquisition of 24 Pubs

​Punch Pubs & Co Expands Portfolio with Acquisition of 24 Pubs

Posted by Emma on 30th Apr 2024

Punch Pubs & Co has acquired 24 pubs from the Milton Three pub group, including the establishments from the Wear Inns portfolio that entered administration last year. Initially put on the market in February, the 25 Wear Inns pubs are strategically located across the north-east of England and Yorkshire. Notable pubs among the purchased include the Black Bull in Morpeth, the Cross Keys in Washington, and the New Inn in Wetherby.

New Inn, Westgate, Wetherby (15th January 2020) Mtaylor848, CC BY-SA 4.0, via Wikimedia Commons

Expressing the company's plans, Clive Chesser, Co-Chief Executive of Punch, shared, "We are delighted to have acquired these excellent pubs, and we are excited about the future as we welcome them into the Punch family." He also thanked Kamran Aziz and the Queensway Advisory team for their ongoing management services during the transition.

Ryan Grant, Managing Director at Interpath Advisory, who managed the sales process, remarked, "We are delighted to have reached this agreement, which will see this portfolio of highly profitable, strong performing and established pubs move into new ownership. We appreciate all stakeholders' support throughout this process and are eager to see how Punch advances these pubs."

Now operating over 1,300 pubs across the UK, Punch continues its expansion under the ownership of Fortress Investment Group, a US-based firm owned by SoftBank, which acquired Punch in December 2021. Last November, Punch also bolstered its strategic direction by appointing three new advisors to its board, including Dame Karen Jones, a current non-executive director at Whitbread and Mowgli.

As Punch Pubs & Co continues to grow, adding these 24 pubs is expected to strengthen its market presence significantly. We invite you to share your thoughts and comments below on this strategic expansion.

Head Image Rights:  Punch Pubs & Co, CC BY-SA 4.0, via Wikimedia Commons