Sources close to private equity firm TDR Capital, the owner of 333-strong Stonegate Pub Company, have denied rumours that it is looking to acquire TCG, writes Paul Charity
TCG operates 107 mainly high-street sites and is owned by fellow private equity player Alchemy Partners.
A TDR source said: “TDR is looking at everything, but there is no work going in with respect to TCG at the moment.”
TCG was founded in 2005 with the acquisition of 178 Spirit pubs for £177m. The company, a mixture of freeholds and leaseholds with mainly commercial landlords, is now focused on three primary market sectors — local pubs, young people’s venues and “quality” venues.
TDR’s denial of interest in TCG comes as work to merge with Town & City Pub Company “progresses well”.
Town & City’s owners Commerzbank and Kaupthing have instituted a recruitment freeze as it looks at the merger plan. It has also moved to separate the management of its La Tasca tapas chain from Town & City.
Simon Wilkinson, the former Kout Food Group and Paramount Restaurants executive, is taking the helm at La Tasca in February.
