Stonegate Pub Company has completed a transaction to acquire Bar Holdings, which operates five bars trading under the Sports Bar & Grill brand.
The bars being acquired are located in prime London locations in Waterloo, Marylebone, Victoria, Farringdon and Canary Wharf.
Sports Bar & Grill focuses on a sports-oriented, drink-led offering, which Stonegate insists is highly complementary to its existing market-leading representation in this category.
Four of the five bars are located in major London transport stations taking Stonegate into retailing within transport hubs, with the flagship Canary Wharf bar situated within the Crossrail development ahead of the Elizabeth line opening in 2018.
Following the acquisition, Stonegate will comprise 703 operating venues, further consolidating the Group’s position as a leading managed pub operator in town and city centre locations nationwide.
Simon Longbottom, chief executive of Stonegate, commented: “This is another excellent bolt-on acquisition for Stonegate which is right in our sweetspot and further consolidates our leading credentials in sports-led entertainment. We have long coveted a presence in key transport hubs and are excited about the opportunity which this presents.”
Stonegate was born out of the acquisition of 300 Mitchells & Butlers pubs seven years ago and now turns over £665m a year. Last month it expressed its intention to take over 70-strong Revolution Bars in a deal worth £100m.