Young’s is believed to be in advanced talks to acquire the 580 Group, the four-strong, London-based pub operator, in a deal valued at c£11m, M&C Report understands.
The Dan Crouch-led venture operates the John Salt on Upper Street, Islington; the Owl and Pussycat in Shoreditch; the Fellow in King’s Cross and the Defector’s Weld in Shepherd’s Bush.
It opened the John Salt at the end of 2012, after the freehold acquisition of the former Keston Lodge bar on Upper Street for £3.25m.
The company took on the site following the surrender by Mitchells & Butlers (M&B) of its interest in the property. It was initially purchased leasehold in a joint venture by 580, which was able to acquire the property from the private landlord.
Earlier this year, Young’s acquired the Fox & Anchor in London’s Smithfield Market and exchanged contracts on two more sites in partnership with Berkeley Homes, one in their Riverlight development in Nine Elms and another one in the Woolwich Arsenal.
It said it continued to “actively pursue other opportunities”.
It is understood that AG&G is advising on the 580 Group deal.
