Hawthorn Leisure Limited, advised by CBRE Specialist Markets, has announced its purchase of 275 tenanted and leased pubs from Greene King for £75.6m.
This is the first investment for Hawthorn Leisure in the pub space and the group will seek to grow through further acquisitions.
Siân Tunney, Head of Pubs at CBRE, commented: “After what has been a torrid time for the pubs business over the last few years, it has been exciting working with a company like Hawthorn who believe so wholeheartedly in this sector. Hawthorn will work in close partnership with its tenants, providing management support and capital investment to help them drive growth and maximise the potential of their pubs. We will also be looking for further acquisition opportunities for Hawthorn in the very near future.”
Hawthorn Leisure is backed by Avenue Capital Group, May Capital LLP and management. The majority of the capital of the acquisition is being provided by Avenue Capital Group, a global investment firm.
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