Young & Co Expands Pub Business
Young & Co, the British regional brewer and pub operator, has expanded its managed pub estate with the acquisition of Geronimo Group for £60m in cash. Geronimo, which was founded in 1995, operates 26 individually designed managed pubs. The estate has exceptional locations with 22 pubs based in Central London, three at Heathrow and one in Surrey.
The transaction achieves an important step change in the size of the Young’s managed estate, which will be increased by more than 20% to 148 pubs, taking the total estate to 247 pubs. Young’s also has a 40% shareholding and interest in a brewing and distribution joint venture, Wells & Young’s Brewing Company.
“The acquisition fits very well with our expansion strategy which is focused on high quality, food-led, managed houses in the London area, a strategy that we will continue to pursue with both the Young’s and the Geronimo formats,” says Stephen Goodyear, chief executive of Young’s.
