The former CEO of Greene King is poised to pump fresh capital into the UK pub sector through a new venture backed by American investors.
Rooney Anand, who left his post at Greene King two years ago, is set to lead The RedCat Pub Company, which intends to partner with licensees, publicans and entrepreneurs.
The business has secured £200m of investment from Los Angeles-based Oaktree Capital Management and will use part of that cash to purchase pub sites in the south and east of the UK.
Mr Anand was quoted as saying: “I’ve always been a strong believer in the great British pub. It has survived the Blitz, the Great Plague and the Credit Crunch – always bouncing back and taking its rightful place at the heart of the community.
“We want to partner with talented licensees and entrepreneurs to give them the support, capital and help they need to thrive.”
Oaktree Capital Management was formed in 1995 by a group of individuals who had been investing together since the mid-1980s in high yield bonds, convertible securities, distressed debt, real estate, control investments and listed equities.
It also has office throughout Europe and Asia, including in London.