Interpath advises on sale of 24 pubs to Punch Pubs & Co

Interpath Advisory has advised on the completed sale of 24 pubs from Milton Portfolio Op Co 3 Limited to Punch Pubs and Co.The transaction sees 24 community pubs located across the North East and Yorkshire join the independent pub company, which is backed by Fortress Investment Group and has a 1,300-strong portfolio across the UK.

Ryan Grant, managing director at Interpath Advisory who oversaw the sales process, said: “We are delighted to have reached this agreement which will see this portfolio of highly profitable, strong performing and established pubs move into new ownership. 

“We would like to thank the many stakeholders who have supported us throughout this process, including all those who assisted in the trading of the venues while the sales process was ongoing. We look forward to seeing Punch take the pubs from strength to strength.”

Nicholas Hill, Consumer and Leisure sector lead in Interpath Advisory’s M&A team, added: “It is not often that a portfolio of 24 high quality freehold wet-led pubs come to market, and as such, the sales process attracted considerable interest – a demonstration of the ongoing appetite to acquire and consolidate across the pub sector, particularly where the acquisition provides an opportunity to scale. 

“We continue to see increased confidence across the wider Leisure and Hospitality sector, and anticipate M&A activity to increase throughout the remainder of 2024, albeit there remain a number of headwinds that continue to linger and taper some of the optimism.”