Board

Public House Transactions 2011

Date

Vendor

Purchaser

Deal

Max Property Group

A £42.6 million sale and leaseback transaction involving 29 pub properties. Enterprise Inns leased back the properties under 35-year lease agreements. Acquisition of the entire share capital of Cloverleaf Restaurants and its 12 pub restaurants across the North of England for £55.8 million.

January Enterprise Inns

January Cloverleaf Restaurants

Greene King

February Sharp’s Brewery

Molson Coors

Acquisition of the Cornish real ale brewer Sharp’s.

February Enterprise Inns

Various

Sale of seven pubs at auction, raising £7.3 million.

Moorfields Corporate Recovery LLP, administrators of Moorgate Taverns

February

Various

Sale of nine former Moorgate Taverns pubs.

A £10.25m sale and leaseback deal with Enterprise Inns for five of the pub company’s sites in Covent Garden and China Town.

February Enterprise Inns

Shaftesbury plc

February Enterprise Inns

Various

Sale and leaseback of three London pubs at auction to raise £2.65 million.

March

Enterprise Inns

Various

Sale and leaseback of three London pubs at auction, raising £3.3 million.

Zolfo Cooper, administrators of Balls Brothers/Lewis & Clarke

Acquisition, out of administration, of the Balls Brothers and Lewis & Clarke businesses in a deal worth up to £7.8 million. The £32.46 million sale and leaseback of a portfolio of 26 freehold pubs. Enterprise Inns took new 35-year leases on the pubs. Acquisition, out of administration of the six-strong Maypole Group for an undisclosed sum.

March

Novus Leisure

Hermes Property Unit Trust (HPUT)

March

Enterprise Inns

Baker Tilly Restructuring and Recovery LLP, administrators of the Maypole Group

March

Marco Pierre White

March

Enterprise Inns

Various

Sale and leaseback of three London pubs at auction raising £3.4 million.

April

Triple Rock

Butcombe Brewery

Acquisition of local operator Triple Rock and its three pubs for an undisclosed sum.

Acquisition of Realpubs – the operator of 14 premium London pubs – for a total consideration of £53.1 million. Merger between Stonegate Pub Company and Town & City Pub Company creating the largest privately held managed pub operator in the UK with an estate of 560 pubs.

April

Realpubs

Greene King

Stonegate Pub Company, backed by TDR Capital

Town & City Pub Company

June

July

Capital Pub Company

Greene King

Acquisition of the Capital Pub Company and its 34 London sites for £70 million.

Ernst & Young, administrators of Pumpster Property Limited

Sale of a flagship Slug and Lettuce site near Leicester Square in London for a reported £4.5 million. Acquisition of the Warrington in Maida Vale, London off a reported asking price of £5.5 million.

August

Shaftesbury

August

Gordon Ramsay Holdings

Faucet Inns

Milner Boardman & Partners, administrators of Liver Leisure, Liver Café and Liver Café Ltd

August

Peacock (NW) Ltd

Acquisition of a group of Liverpool bars through a pre-pack administration.

The acquisition of eight Old Orleans sites in Birmingham, Cardiff, Coventry, Enfield, Epping, Manchester, Reading and Thurrock for an undisclosed sum. Acquisition of Market Town Taverns, operator of 15 pubs across North and West Yorkshire for an undisclosed sum. Acquisition of three leasehold and two freehold pubs in a deal reportedly worth £16 million.

September Intertain

Mitchells & Butlers

October

Market Town Taverns

Heron & Brearley

November Fuller’s

Marston’s

Scottish & Newcastle Pub Company (S&NPC) Peter Marks, Alex Geffert and Joe Heanen

December Royal Bank of Scotland

Acquisition of the Galaxy pub estate of 918 freehold assets for £412 million.

Ernst & Young, administrators of Luminar Leisure

December

Acquisition of Luminar Leisure and its 66 operating nightclubs for £45 million.

Acquisition of two sites in Berkshire and Oxfordshire formerly owned by Merchant Inns. The £23.85 million sale and leaseback of a portfolio of 17 freehold pubs. Enterprise Inns took new 35-year leases on the pubs.

December Baker Tilly

Marco Pierre White

Hermes Property Unit Trust (HPUT)

December Enterprise Inns

Note: Details of the transactions listed in the table above are taken from information in the public domain and Christie + Co cannot warrant their accuracy.

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