CBRE ADVISES HEINEKEN ON SALE OF 30 PUBS
CBRE, the world's leading real estate advisor has advised Heineken on the sale of the 30 pubs in England, Scotland and Wales. The deal was required for competition reasons relating to its proposed takeover of Punch A.
In a transaction heavily prescribed by CMA rules, CBRE Specialist Markets successfully identified a significant number of bidders that fulfilled the requirements and invited bids through structures that would enable all 30 pubs to be sold in a limited timescale.
The resulting deal involved an innovative structure that allowed G1 to buy the 12 Scottish pubs, Admiral Taverns to buy 17 pubs in England and Wales, and the Seafood Pub Company to buy the Fleece in Addingham. This is the second time that CBRE Specialist Markets has assisted Heineken in a CMA process – the first being their purchase of 13 pubs from Greene King post the Spirit acquisition in 2015, and followed on from the successful sale of 111 pubs to Admiral Taverns in 2014.
We are delighted to have once again acted for Heineken in a complex process which illustrates not only the demand for high quality tenanted pubs, but also the clear strategic thinking we can bring to a complex process.