Britain’s greatest pubs operator is exploring a sale of a 75-strong portfolio that would command a price-tag of as much as £100m.
Sky Information has learnt that Stonegate Group, which owns the Slug & Lettuce and Be At One manufacturers, has employed advisers to gauge potential patrons’ urge for food for the pubs, that are situated primarily in London and south-east England.
Metropolis sources mentioned that Eastdil, the true property funding financial institution, and Sapient Company Finance had been engaged to work on the deal.
The sale course of comes because the hospitality business grapples with hovering inflation and labour shortages throughout the sector, with business bosses warning of giant challenges within the months forward.
The portfolio of Free-of-Tie pubs being earmarked on the market by Stonegate, which has been given the code-name Venture Silver, accounts for less than a tiny proportion of the corporate’s total property.
Stonegate is managed by the non-public fairness agency TDR Capital, which additionally has huge stakes in companies corresponding to Asda and the petrol retailing big, EG Group.
It’s run by business veteran Simon Longbottom, who has held the function since 2014.
One insider mentioned the Venture Silver property have been high-quality pubs transformed from throughout the Stonegate empire.
The method comes as different pub operators, together with Blackpool-based Amber Taverns, are additionally engaged in sale processes.
A Stonegate spokeswoman declined to remark.