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Punch Pubs
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Punch Pubs
Punch Pubs & Co is a pub and bar operator in the United Kingdom, with around 1,300 leased pubs. It is headquartered in the traditional brewing centre of Burton upon Trent in Staffordshire. It was listed on the London Stock Exchange as a constituent of the FTSE SmallCap Index until its sale in 2016 for £403 million to a private equity fund, Patron Capital, acting in concert with Heineken International who acquired 1,900 of Punch's pubs as part of the deal.
The company was established by former PizzaExpress head Hugh Osmond and Café Rouge founder Roger Myers in 1997, when they bought the Bass Brewery portfolio of public houses. In 1999, Punch purchased Inn Business Group plc, and later Allied Domecq's pubs for £3 billion, beating a rival bid from Whitbread. After the deal, Punch spun off its managed pubs into a separate division, Punch Retail, which was later renamed Spirit Group.
In 2002, Punch demerged the Spirit Group and then floated itself on the London Stock Exchange. Punch acquired its larger rival Pubmaster in November 2003 for £168 million, which included taking on Pubmaster's £1 billion debt; the move took the group to more than 7,000 pubs and made it at the time the largest pub operator in the UK. After completing this deal, Punch later bought InnSpired Inns plc, and then Avebury Taverns.
Meanwhile, Spirit Group (at that time independent from Punch Taverns) expanded when it acquired Scottish & Newcastle's 1,450-strong pub estate in 2003, beating off rival Mitchells & Butlers.
In September 2005, Spirit Group sold its "City Nights" portfolio of in excess of 180 pubs and clubs, en-bloc, to Alchemy - the financial backers behind the newly formed Tattershall Castle Group (TCG).
In December 2005, Punch agreed to re-acquire the Spirit Group for £2.68 billion which since 2002 had been owned by the private equity firms Blackstone, Texas Pacific and CVC Capital Partners.
In 2006, the company sold its Old Orleans pub chain, which it had acquired when it bought Spirit Group, to Regent Inns. Punch also sold 290 Spirit sites to the private equity firm GI Partners.
In March 2008, Punch withdrew from a bid to merge with Mitchells & Butlers.
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Punch Pubs
Punch Pubs & Co is a pub and bar operator in the United Kingdom, with around 1,300 leased pubs. It is headquartered in the traditional brewing centre of Burton upon Trent in Staffordshire. It was listed on the London Stock Exchange as a constituent of the FTSE SmallCap Index until its sale in 2016 for £403 million to a private equity fund, Patron Capital, acting in concert with Heineken International who acquired 1,900 of Punch's pubs as part of the deal.
The company was established by former PizzaExpress head Hugh Osmond and Café Rouge founder Roger Myers in 1997, when they bought the Bass Brewery portfolio of public houses. In 1999, Punch purchased Inn Business Group plc, and later Allied Domecq's pubs for £3 billion, beating a rival bid from Whitbread. After the deal, Punch spun off its managed pubs into a separate division, Punch Retail, which was later renamed Spirit Group.
In 2002, Punch demerged the Spirit Group and then floated itself on the London Stock Exchange. Punch acquired its larger rival Pubmaster in November 2003 for £168 million, which included taking on Pubmaster's £1 billion debt; the move took the group to more than 7,000 pubs and made it at the time the largest pub operator in the UK. After completing this deal, Punch later bought InnSpired Inns plc, and then Avebury Taverns.
Meanwhile, Spirit Group (at that time independent from Punch Taverns) expanded when it acquired Scottish & Newcastle's 1,450-strong pub estate in 2003, beating off rival Mitchells & Butlers.
In September 2005, Spirit Group sold its "City Nights" portfolio of in excess of 180 pubs and clubs, en-bloc, to Alchemy - the financial backers behind the newly formed Tattershall Castle Group (TCG).
In December 2005, Punch agreed to re-acquire the Spirit Group for £2.68 billion which since 2002 had been owned by the private equity firms Blackstone, Texas Pacific and CVC Capital Partners.
In 2006, the company sold its Old Orleans pub chain, which it had acquired when it bought Spirit Group, to Regent Inns. Punch also sold 290 Spirit sites to the private equity firm GI Partners.
In March 2008, Punch withdrew from a bid to merge with Mitchells & Butlers.
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