Chester based Admiral Taverns scooped up by Magners Cider owner C&C in £220m deal

Admiral Taverns the Chester based pub company which owns and operates 845 pubs across England and Wales including the Hare and Hounds in Connah’s Quay, has been bought by Irish drinks firm C&C, the company behind Magners cider.

The deal will also see New York based investor Proprium Capital Partners take a large slice of Admiral which is valued at £220m.

C&C will receive 47% of Admiral from its £37m investment while Proprium will take a higher stake.

Admiral’s management team will take the rest, CEO Kevin Georgel and the management team are expected to remain in their positions.

Under previous owner Cerberus’ the pubco achieved consistently strong performance and was named Leased and Tenanted Pub Company of the Year in 2016.

The deal will mean C&C get direct access to 845 pubs in England and Wales with its portfolio of products which includes Bulmers and Magners Ciders along with Tennent’s Lager.

Commenting on the investment, Stephen Glancey, C&C CEO, said:

“The local pub remains at the heart of many suburban and city communities – often the hub of local activity and their economic and social contribution is immeasurable. 

C&C has a long and successful track-record of supplying and providing financial support to local pubs within the independent free-trade in Scotland and Ireland.In the UK, the tenanted pub model is a key component of the pub industry. When well

In the UK, the tenanted pub model is a key component of the pub industry. When well invested, and with the right operator and product range, it can provide excellent sustainable

When well invested, and with the right operator and product range, it can provide excellent sustainable
returns to all participants.

Admiral management has a proven track record in balancing these returns with the needs of their tenants and consumers.

Today’s new arrangements will enhance choice for both tenants and consumers and provide a platform for further growth at Admiral.

For C&C, this is an attractive opportunity to create a new long term investment in the important on-trade channel, without taking significant financial and operational risk.

The investment will provide our brands with improved distribution in some of the best community pubs across the UK, with an opportunity to enhance on-trade penetration further over time.