Britain’s largest pub operator is preparing £1 billion sell-off of more than 1,000 venues

Britain’s largest pub operator is preparing £1 billion sell-off of more than 1,000 venues

Stonegate Group, owner of the Slug & Lettuce and Be At One chains, has opened preliminary talks with advisers about a disposal of part of its estate, according to industry sources. The move comes as the company struggles with more than £3 billion of debt built up largely through its £3 billion takeover of rival Ei in 2019. The pubs under review — 1,034 sites internally known as Stonegate’s “platinum” collection — are regarded as among the compan…

Stonegate could sell ‘platinum’ pubs

It’s being reported that Stonegate Group is considering the sale of more than 1,000 pubs — almost a quarter of its estate — to reduce debt. The sale would focus on pubs in Stonegate’s so-called platinum collection, its finest properties. The value of these pubs, which are all freehold premises, could be as high as £1 billion. Owned by private equity firm TDR Capital, Stonegate acquired Ei in 2019 to make it the largest pub owner in the UK. But i…