RedCat Pub Company, the group led by former Greene King chief executive Rooney Anand, has acquired The Coaching Inn Group.

It’s understood the pub investment vehicle has purchased the 18-strong coaching-inn operator, led by Kevin Charity, for more than £50m, and forms part of its plans to acquire quality retail and tenanted pubs, as well as pub hotels across the UK.

The Coaching Inn Group was founded by chief executive Charity in 1996 and has sites located across England and Wales, including in Yorkshire, the Cotswolds, Cambridge and the Peak District.

The business will continue to be led Charity and finance officer Edward Walsh, and with the support of RedCat will look to build the scale and momentum of its expansion in the UK.

RedCat said the acquisition would give it a strong position within the UK pub hotels sector, and follows news of its purchase of The New Dungeon Ghyll pub hotel in the Lake District, last week, for an undisclosed sum.

Rooney Anand, executive chairman, RedCat Pub Company, said: “I’m delighted that The Coaching Inn Group is becoming part of RedCat. It’s a business I’ve long admired and Kevin Charity is a class act. I look forward to building our pub hotels business and building our business together.”

Kevin Charity, chief executive of The Coaching Inn Group, added: “I’m very excited at the prospect of our business becoming part of RedCat. It’s a great opportunity to be part of an entrepreneurial venture and to work with such talented and seasoned pub executives. I’m confident that with RedCat’s support, we can continue our momentum and grow our footprint of historic pub hotels.”

RedCat is backed by US investment firm Oaktree, with the pub investment vehicle gaining £200m in funding from the group, at the beginning of this year.

Speaking at the time, Anand told the Telegraph: “There is no set playbook,” Anand told the Telegraph. “I am not trying to recreate Greene King. I see myself as someone who’s investing in a sector that has been oversold, where people have taken cover and written it off and have been too quick to say: ‘It’s not going to recover’.

In March this year it snapped up a collection of 42 pubs from Stonegate – its first acquisition – comprising 30 freehold and 12 leasehold sites.

 

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