Massive deal: Stonegate buys Ei Group for £1.3bn Stonegate Pub Company has today (18 July) agreed to buy pubco Ei Group for £1.27bn, which will see the operator’s estate rise by 4,000 sites, making Stonegate the UK’s largest pub owner. In June 2015, a further 15 sites were acquired from Scottish pub, bar and hotel operator, Maclay Inns, and later that same year Stonegate acquired 53 pubs from Tattershall Castle Group (TCG) including the Henry's Café Bar and Tattershall Castle brands. If approved the merger will create the UK’s largest pub group with almost 5,000 sites, including Stonegate’s Slug & Lettuce and Walkabout chains. Stonegate yesterday revealed it will pay £1.3 billion and assume all of Ei Group’s debt in a deal worth £3 billion. TDR Capital, the private equity firm that owns the Stonegate Pub Co., agreed to buy the U.K.’s EI Group Plc for about 1.3 billion pounds ($1.6 billion) in cash. Following the shock announcement this morning that Stonegate has agreed to buy Ei Group and its 4,000 sites, making Stonegate the UK’s largest pub owner – should the deal go through – Longbottom told MA ​it would be prepared to invest in all aspects of the estate. Pub operator Ei Group said the High Court of Justice in England & Wales approved the acquisition of the company by Stonegate Pub. Stonegate began trading in November 2010 following the acquisition by Stonegate of 333 pubs from Mitchells & Butlers and has since grown in size and scale through a series of strategic acquisitions. As our managed business grows we will grow our capabilities to deliver sustainable operating procedures which are mindful of the environment and the local community. Find latest news, information and presentations to help you understand our business.​. However, shareholders still have to vote on the deal, which also has to be approved by various competition authorities. Stonegate Pub Company purchased Ei Group on 3 March 2020 for £1.27bn, making it the largest pub company in the UK with around 4,500 sites. Copyright © 2020 Ei Group, ​​​​​​​Field Operations – Regional Management. EI investors can certainly feel justified in opening a bottle of the nearest frizzante in celebration. “At Stonegate, we have an established track record of running successful pubs throughout the UK – with over £350m having been spent on capital expenditure at Stonegate since it began trading in November 2010. Branded is comprised of: Slug & Lettuce, Walkabout, Be At One and Venues, (including Popworld and Fever). July 18 2019. ​We recognise our duty to operate the business in an ethical and responsible manner. The operator, which owns brands including the recently acquired Be At One and Slug & Lettuce, currently has over 760 sites, a number it has reached incrementally since buying 333 sites from Mitchells & Butlers almost a decade ago. Who we are; Our businesses; Responsibility; … We are always looking for talented people to join either our head office team, one of our Group businesses, or  to manage or work in one of our pubs. Ei Group chairman Robert Walker said: “In 2015, we set out a new strategy. The acquisition valued Ei Group’s entire business at near £3bn, including its debt and adjusted for the recent disposal of 370 commercial properties. Originally trading from rented offices near Birmingham airport it then moved its operations office to Capability Green in Luton in June 2011 when Stonegate merged with Town & City Pub Company, creating the largest privately held managed pub operator in the UK and acquiring the Yates's and Slug and Lettuce brands in the process. Stonegate Pub Company purchased Ei Group on 3 March 2020 for £1.27bn, making it the largest pub company in the UK with around 4,500 sites. Stonegate Pub Company has announced a multi-million support package for publicans within the recently acquired Ei Publican Partnerships leased and tenanted business. The deal would mean Stonegate’s estate would rise by 4,000 sites, making it the largest pub owner. This site uses cookies. The deal had not been in the pipeline for more than three months before the announcement today (18 July), said Ei Group chief executive Simon Townsend. Slug and Lettuce pub owner Stonegate sold 1.2 billion pounds of bonds on Friday to finance its acquisition of rival Ei Group , the company said on Friday. to be effected by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006 UPDATE ON COOPERATION AGREEMENT. For more information relating to this announcement, please click on the following link. The owner of the Slug and Lettuce, Walkabout and Yates chains has been given the green light to buy Ei Group in a deal that will create Britain’s largest pubs company.The Competition and Markets August 15 2019 . In January 2016 the company began a programme to update the former TCG estate pubs and re-brand many of the venues to Slug & Lettuce to further expand the brand. The private equity owner of the Slug and Lettuce chain has acquired the UK’s largest pub operator in a £3bn deal that will increase the size of its estate by more than six times. Stonegate Pub Company has today (18 July) agreed to buy pubco Ei Group for £1.27bn, which will see the operator’s estate rise by 4,000 sites, making Stonegate the UK’s largest pub owner. Stonegate is an experienced managed pub operator, with a record of investing more than £350m into its estate since 2010, including £71m in 2018. Our goal is to help entrepreneurial publicans thrive in local communities by giving them the opportunity to run their own pubs. Stonegate agreed to buy Ei Group for £1.27bn ​ last year (July). Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). Stonegate, which is backed by the private equity firm TDR Capital, agreed a £3bn takeover of Ei Group in July 2019. Stonegate’s managed pubs division is split into Branded and Traditional (unbranded) pubs. For more details about cookies and how to manage them see our cookie info. In August 2013, Stonegate acquired 13 Living Room sites from Premium Bars & Restaurants. View recommended offer. Stonegate Pub Company is multi-award-winning for its business performance and commitment to developing its people. Further acquisitions took place in 2017 and 2018 with the company acquiring the Sports Bar & Grill concept (2017), Be At One, and 15 Novus Leisure sites (2018). Ei Group accepts 285p per share offer from Stonegate Pub Company: The boards of directors of Ei Group (EIG) and Stonegate Pub Company Bidco Limited, a wholly-owned subsidiary of Stonegate Pub Company, have reached agreement on the terms and conditions of a recommended all-cash acquisition of Ei Group. By continuing to browse the site you are agreeing to our use of cookies. July 24 (Reuters) - Slug and Lettuce pub owner Stonegate sold 1.2 billion pounds ($1.53 billion) of bonds on Friday to finance its acquisition of rival Ei Group, the company said on Friday. This week the Stonegate Pub Company agreed to buy 100% of the share capital of EI Group at 285p, representing a 38% premium to last Friday’s price, in a deal worth £2.96 billion including net debt of £2bn. The Ultimate Guide on How to Sell your Pub, How to increase table service efficiency & revenue, Trays are for plates not drinks – says muggi, How to reopen safely with mobile ordering, Sign up to our free newsletter and get the latest news sent direct to your inbox. Ei Group, formerly called Enterprise Inns, said it had agreed a 285p-a-share deal with Stonegate Pub Company valuing its equity at £1.27 billion. Ei Group plc ("EIG") announces that EIG, Stonegate Pub Company Limited and Stonegate Pub Company Bidco Limited ("Stonegate") have agreed to enter into a new cooperation agreement, … Company no: 2562808 Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and … The Group optimises value creation for its stakeholders by ensuring the right offer is available in each of its assets, supported by the best people under the most appropriate operating model. Stonegate Pub Company / Ei Group plc merger inquiry The CMA is investigating the anticipated acquisition by Stonegate Pub Company Limited of Ei Group … The proposed sale of 42 pubs might allay the Competition and Markets Authority's (CMA) concerns over Stonegate's £1.27b acquisition of Ei Group. Discussions about the acquisition have been taking place for several weeks, before a deal was finally announced this morning. Ei Group is the largest owner of pubs in the UK, with over 4,000 sites across England and Wales. Ei Group is totally committed to the delivery of our Corporate Social Responsibility (CSR) strategy. The company also won five awards at last year’s Publican Awards, including Best Pub Employer, Best Managed Pub Company and Best Community Pub Operator. The move will make Stonegate the UK’s largest pub operator, with close to 5,000 properties. Stonegate sells 1.2 billion pounds of bonds to finance deal with Ei Group. Ei Group, the pub operator being bought by Slug and Lettuce owner Stonegate, reported that earnings dropped this year after the disposal of 354 venues. Read more. 26-Jul-2019 at 07:11 GMT. Ei GROUP PLC. Stonegate is a managed pub company and has a national estate of over 765 operating outlets. In July 2019, Ei - formerly know as Enterprise Inns - agreed to a takeover offer from Slug & Lettuce-chain owner Stonegate. by. Stonegate Pub Company must assure a watchdog that its prices will not rise in the aftermath of its proposed acquisition of Ei Group’s portfolio. About Us. Our CSR strategy, agenda and implementation plans are developed for Ei Group people and operations and to help, support and influence all of our publicans. Read the latest news and information on our company and brands. Free newsletter The UK's leading pubs business Stonegate Pub Company purchased Ei Group on 3 March 2020 for £1.27bn, making it the largest pub company in the UK with around 4,500 sites. 3 Monkspath Hall Road, Ei Group (EIG) is set to be taken over by Slug & Lettuce owner Stonegate Pub Company in a deal that values the pub group at an enterprise value of £2.97bn, in an agreement that has pleased some shareholders. Subscribe Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). The Competition and Markets Authority (CMA) has given conditional approval for Stonegate's £1.27b acquisition of Ei Group. Stonegate Pub Company purchased Ei Group on 3 March 2020 for £1.27bn, making it the largest pub company in the UK with around 4,500 sites. It has found that the deal does not raise competition concerns on a national level, but that there would be reduced choice for pub-goers in 51 local areas. Stonegate is an experienced managed pub operator, with a record of investing more than £350m into its estate since 2010, including £71m in 2018. We also have opportunities all over the country to run your own pub. Free newsletter Ensuring a fair balance of support and assistance across the estate, all tied publicans operating on substantive agreements that are not in receipt of Government grants will receive a three-month rent credit for the period April to June. Subscribe, By Nicholas Robinson contact, 18-Jul-2019 Sign up to our free newsletter and get the latest news sent direct to your inbox. We have four businesses, each delivers a distinctive operating model. During the past four years, we have made great progress in its execution and have delivered a significant increase in value for our shareholders.

Grease 2 Cast Who Have Died, Magnificent Plan Of Action Crossword Clue, Casa Colibri Mexico, Bsc Nursing Admission 2020-21, Peter Pan Syndrome In Females, Guzmania Care After Flowering, Bitting A Horse, Rum Cake Recipe Uk,