Our Standards: The Thomson Reuters Trust Principles. The 1.3 billion pound Ei takeover - 2.97 billion pounds including debt - turned Stonegate into Britain’s largest pub owner and was completed just before the COVID-19 crisis shut down the hospitality industry. Ei Group and Stonegate had only been discussing an acquisition deal since May, before deciding on a “generous” £1.27bn price, The Morning Advertiser (MA) understands. 02-Dec-2020 at 09:03 GMT. var vOut=""; July 24 (Reuters) - Slug and Lettuce pub owner Stonegate sold 1.2 billion pounds ($1.53 billion) of bonds on Friday to finance its acquisition of rival Ei Group, the company said on Friday. Who we are; Our businesses; Responsibility; … The takeover of Ei Group will add almost 4,000 new pubs to Stonegate Pub Company’s 765 existing locations, eclipsing its past takeovers. Pub operators like Stonegate have been affected by Britain’s coronavirus lockdown, but discussions with investors have shown there is sufficient market demand for the company’s debt, sources said in June. Photograph: Peter Nicholls/Reuters. Recommended cash acquisition by Stonegate Z Recommended cash acquisition of Ei Group plc by Stonegate Pub Company (the Stonegate Offer) at 285p per share announced on 18 July 2019, and approved by shareholders on 12 September 2019 Z The offer price represented a premium of approximately 38.5% to $(document).ready(function() { Stonegate Pub Company has announced a multi-million support package for publicans within the recently acquired Ei Publican Partnerships leased and tenanted business. It was previously known as Enterprise Inns and since reforms to the pub industry regulations in 2016 has focused on building an estate of managed pubs to … var reg = new RegExp('\\W+', "g"); It’s important to me that I keep the Fox as a traditional local pub with great food and drink. Stonegate Pub Co owns 772 pubs, including the Slug & Lettuce, Walkabout and Yates brands. A Stonegate spokesperson said "Last year Stonegate … This prompted concerns among investors about the fate of acquisitions agreed pre-crisis, such as Stonegate’s. Our goal is to deliver fantastic customer experiences. “We are excited to be broadening our customer base and presence here in Yorkshire with the addition of a Northallerton location to our group. All quotes delayed a minimum of 15 minutes. While buy-out fund RCapital is among those interested in acquiring the 10 pubs owned by Stonegate and 32 Ei sites, the venues have reportedly attracted interest from real estate company Aprirose and Admiral Taverns. Stonegate started as a real estate investment company and evolved to become a general business management and investment company with services touching on all aspects of business and real estate, from property management and development to ownership and franchising of food distribution, laundry and custom furniture businesses. dataLayerNews = {}; Chef Mark Hix has announced that he is to open his first pub, the Grade II-listed 16th​ century pub Fox Inn in Corscombe, Dorset, when England’s second national lockdown is lifted. vOut = vOut.toLowerCase(); The award-winning pubco acquired the site on 30 November, where it will embark on a multi-million-pound project to transform the Grade II listed building into a 32-bedroom inn and reopen in autumn 2021. Ei Group plc, formerly known as Enterprise Inns plc, is the largest pub company in the UK, with around 5,000 properties, predominantly run as leased and tenanted pubs. By Alex Janiaud. England allowed pubs, hair salons and restaurants to open earlier this month, as it looked to resume normal life. “With all the challenges that we are facing now, it’s great to be able to focus on an exciting new project. “Since lockdown in spring, the pub has only been open three days a week, so I am looking forward to opening six days a week for the locals and visitors to the area to enjoy once more.”. Pub operator Coastal & Country Inns is on the cusp of reopening the Owl at Hawnby, near Helmsley, in the North York Moors National Park following a £650,000 investment. Wir die Stonegate Natursteine GmbH wurde gegründet 2007 in Köln und hat heute Ihren Sitz in Köln Rodenkirchen. “We have a proven track record for repurposing and enhancing historic buildings,” he continued. Stonegate intends to acquire Ei Group for £1.27bn, a move that would make the former the largest pub company in the country with around 5,000 sites. The shareholders of Ei, which was previously Enterprise Inns, accepted the offer by Stonegate in September 2019. Ei Group is the largest owner of pubs in the UK, with over 4,000 sites across England and Wales. Reporting by Kanishka Singh in Bengaluru; editing by Jonathan Oatis. for (var i=0; i < aTags.length; i++) July 18 2019. For more information relating to this announcement, please click on the following link. “Our aim, as a company, is to create a portfolio of attractive inns of which we can be very proud. The deal, which will see Stonegate become the UK’s largest pub operator, was rubber stamped by the Competition and Markets Authority on the condition that 42 pubs in areas where it may form a monopoly were sold. “It will be a pub with no gimmicks – just good beer and a good choice of beer,” managing director Angus McMeeking told the Express & Star.​. “We are delighted to have completed on the police station in Northallerton, it’s a site we have been working together with the vendors and our design partners on for a considerable period of time,” managing director for The Inn Collection Group, Sean Donkin, said. In a notice issued today (9 January), it said the sale of 42 pubs “might be acceptable as a suitable remedy” to local competition concerns. Stonegate to acquire Ei Group. The deal had not been in the pipeline for more than three months before the announcement today (18 July), said Ei Group chief executive Simon Townsend. Though the Owl will remain part of Mexborough Estates, a long-term leasehold has been bought by Coastal and Country Inns. the Stonegate Group of Companies. By Kanishka Singh (Reuters) - Slug and Lettuce pub owner Stonegate sold 1.2 billion pounds of bonds on Friday to finance its acquisition of rival Ei Group , the company said on Friday. September 12 2019. The United Kingdom has had over 327,000 cases of coronavirus infections and over 45,000 deaths from the outbreak as of Friday. The acquisition will be effective from 3 March and means Stonegate will be the largest pub operator in the UK, with a total portfolio of about 5,000 venues. It has 1270 sites within the managed division and 3457 leased and tenanted businesses. The group has also confirmed that Bermondsey Pub Company's 65 pubs are being incorporated into the group's managed estate and will be converted into one of Stonegate's existing pub formats. High-yield bond markets, also known as junk bonds because of their risk profile, were particularly hard hit in the March financial market sell-off, with yields climbing sharply. (Reuters) - Slug and Lettuce pub owner Stonegate sold 1.2 billion pounds of bonds on Friday to finance its acquisition of rival Ei Group EIGE.L, the company said on Friday. “It will be the jewel in our crown. Free newsletter Subscribe, By Stuart Stone The CMA is investigating the anticipated acquisition by Stonegate Pub Company Limited of Ei Group … dataLayerNews.related_tags = sanitize_gpt_value2("Property, Pubco + head office, Finance, Tenanted + leased"); From January the integrated businesses will be headquartered in Ei Group's former head office in Solihull, Birmingham. Ei Group plc is headquartered in Solihull, West Midlands.It was listed on the London Stock Exchange until it was acquired by Stonegate Pub Company in March 2020. We operate over 700 pubs and bars across the UK, within a wide variety of formats: from community and high-street pubs, through branded bars, to country inns and late-night venues. Black Country Ales’ 38th site – the 200-year-old Starving Rascal, in Amblecote Stourbridge – is also on course to open on 17 December – subject to local Covid-19 restrictions – following a revamp. Stonegate sells 1.2 billion pounds of bonds to finance deal with Ei Group. Die Stonegate fertigt, verkauft und montiert Naturstein Fensterbänke, Waschtischplatten, Tischplatten und Arbeitsplatten nach Mass aus Granit, Schiefer und Marmor. The deal, announced today and worth £1.3bn , will see 4,000 Ei Group properties transfer to Stonegate – owner of brands including Be At One and Walkabout. vOut += aTags[i].trim().replace(reg, '-').substring(0,40); Stonegate agreed to buy Ei Group for £1.27bn last year (July). Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). “The owners of the pub have been family friends for many years,” he said. important disclaimer. dataLayer.push(dataLayerNews); View scheme document and notices of shareholder meetings. We want our inns to be individual, friendly, accessible and tasteful, a far cry from the big pub chains.”, Copyright - Unless otherwise stated all contents of this web site are © 2021 - William Reed Business Media Ltd - All Rights Reserved - Full details for the use of materials on this site can be found in the Terms & Conditions, Related topics: Stonegate, which is backed by the private equity firm TDR Capital, agreed a £3bn takeover of Ei Group in July 2019. var aTags = gptValue.split(','); “It is a great country town that is full of character with good access and visitation, while the venue itself is superbly located. According to reports in The Telegraph , the former owner of Little Chef is weighing up a move for 42 pubs put on the market following Stonegate’s £3bn takeover of Ei Group. { Ei Group, formerly called Enterprise Inns, said it had agreed a 285p-a-share deal with Stonegate Pub Company valuing its equity at £1.27 billion. The site, which had been closed for two years, will welcome custom subject to Covid-19 restrictions from 3 December off the back of a major overhaul to transform it into a pub-restaurant with nine rooms to let. Stonegate Pubs. Our goal is to deliver fantastic customer experiences. “It will be my first pub so it’s an exciting new project for me in the countryside where I’ll be serving local meat and game along with some British pub classics, a contrast to the fish and seafood offering in Lyme. - Last updated on this part of the website relates to the recommended cash acquisition by stonegate pub company bidco limited (“stonegate bidco”), a wholly owned subsidiary of stonegate pub company limited, of ei group plc (“eig”), to be effected by way of a scheme of arrangement under part 26 of the companies act 2006 (the “acquisition”). The boards of directors of Ei Group plc (“EIG”) and Stonegate Pub Company Bidco Limited (“Bidco”), a wholly-owned subsidiary of Stonegate Pub Company Limited (“Stonegate”), are pleased to announce that they have reached agreement on the terms and conditions of a recommended all-cash acquisition of the entire issued, and to be issued, ordinary share capital […] Property law. The deal, which will see Stonegate become the UK’s largest pub operator, was rubber stamped by the Competition and Markets Authority on the condition that 42 pubs in areas where it may form a monopoly were sold. Related tags: contact, 02-Dec-2020 The financing package consisted of five-year sterling and euro tranches worth 950 million pounds and 300 million euros ($349.11 million) respectively, according to a transaction note shared by Stonegate with Reuters. }); According to reports in The Telegraph​, the former owner of Little Chef is weighing up a move for 42 pubs put on the market following Stonegate’s £3bn takeover of Ei Group. North east-based pub operator The Inn Collection Group has unveiled plans to transform the former police station in Northallerton, North Yorkshire, into a pub with rooms – creating up to 50 jobs in the process. But the European Central Bank’s bond-buying programme and the U.S. Federal Reserve’s decision to include corporate bonds in its purchases has since helped calm investors’ nerves, as has the gradual reopening of the European economy after weeks of lockdown. Massive deal: Stonegate buys Ei Group for £1.3bn Stonegate Pub Company has today (18 July) agreed to buy pubco Ei Group for £1.27bn, which will see the operator’s estate rise by 4,000 sites, making Stonegate the UK’s largest pub owner. Stonegate Pub Company. “When they offered me the lease, I thought it could be a great opportunity, despite these uncertain times that we are in. The Ultimate Guide on How to Sell your Pub, How to increase table service efficiency & revenue, Trays are for plates not drinks – says muggi, How to reopen safely with mobile ordering, Sign up to our free newsletter and get the latest news sent direct to your inbox. Free newsletter } Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). What’s more, the operator’s 39th pub – the Harp Hotel, in Albrighton – is having finishing touches applied before it reopens in the new year following its purchase from Hopback Brewery. Get the latest news, analysis and insights from the uk pub sector straight to your inbox! Stonegate, the UK-based operator of pub brands including Slug & Lettuce and Yates, is to buy rival Ei Group in a deal estimated to be worth £3bn (€3.34bn). About Us. August 15 2019 . Subscribe CMA to rule on Stonegate acquisition of EI Group by February The £3bn takeover, if approved, will create a company operating around 5,000 pubs in the UK including brands such as Slug & Lettuce View recommended offer. The building, which has remained vacant since North Yorkshire police services were relocated to new headquarters, currently contains original features including a custody suite complete with cells and reception desk. function sanitize_gpt_value2(gptValue) Stonegate Pub Company purchased Ei Group on 3 March 2020 for £1.27bn, making it the largest pub company in the UK with around 4,500 sites. Besuchen Sie uns auf unserer Webseite https://stone-gate.eu oder rufen Sie uns an unter 02236-5093048. (Reuters) - Slug and Lettuce pub owner Stonegate sold 1.2 billion pounds of bonds on Friday to finance its acquisition of rival Ei Group. See here for a complete list of exchanges and delays. Stonegate also has a strong record of investing in its estate over the past nine years, to the tune of over £200m, he added. Sign up to our free newsletter and get the latest news sent direct to your inbox. (Reuters) - Slug and Lettuce pub owner Stonegate sold 1.2 billion pounds of bonds on Friday to finance its acquisition of rival Ei Group EIGE.L, the company said on Friday. View Stonegate - supplementary presentation. The deal, which was for an undisclosed sum, grows the group’s portfolio to 18 sites, is its fourth Yorkshire location – joining the King’s Head Inn at Newton-under-Roseberry, the Black Swan at Helmsley and the Stables at Whitby – and is its seventh addition of the year. Ei owns 4,000 pubs. “We’re looking forward to applying that here and creating an exciting new venue in the heart of Northallerton and being a part of the community, providing year-round food, drink and accommodation services and, of course, employment opportunities at a critical time.”. The Group, which employs over 15,145 staff nationwide, has announced the start of a collective consultation process on proposals which may result in no more than 300 roles being made redundant across the support teams in the legacy Stonegate and Ei Group businesses. The deal would mean Stonegate’s estate would … Stonegate's move for Solihull-headquartered Ei Group was backed by the Competition and Markets Authority on Friday 14 February and will completed on Tuesday 3 March after being sanctioned by the High Court last week. This drew negative attention due to the company's Cayman Islands registration. In addition to acquisitions by The Inn Collection Group, Black Country Ales and Coastal & Country in the past week, there's news of interest in a 42 pub package and a celebrity chef entering the pub game. View Regulatory Annoucement - Results of Court & General Meetings. Find out more. return vOut; The UK’s competition watchdog on Friday warned it has concerns that Stonegate’s £3 billion takeover of pubs giant Ei could result in potential price rises for customers in certain areas. More about: | Business | Ei | stonegate vOut +=', '; The new venue will close for a five-figure refurbishment early in 2021 before reopening. During the 2020 coronavirus pandemic, Stonegate furloughed 16,500 workers under a UK job retention program. Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). { “This is a tremendous opportunity for us – and the perfect fit for our operation,” Coastal and Country Inns managing director Chrish Hannon said. Following the acquisition of Ei Group on 3rd March 2020 for £1.27bn, Stonegate Pub Company became the largest [vague] pub company in the UK. Stonegate agreed the deal for Ei, the 4000-strong pub group, in July. if(i!=(aTags.length-1)) Stonegate Pub Company purchased Ei Group on 3 March 2020 for £1.27bn, making it the largest pub company in the UK with around 4,500 sites. Stonegate Pub Company / Ei Group plc merger inquiry. The deal would see RCapital return to the hospitality sector for the first time since it led a high-profile transformation of roadside diner Little Chef in tandem with Heston Blumenthal before selling the chain to Kout Food Group in 2013 for £15m – six years after buying it out of administration for £9m. Some of Our Partner … TDR Capital, the private equity firm that owns the Stonegate Pub Co., agreed to buy the U.K.’s EI Group Plc for about 1.3 billion pounds ($1.6 billion) in cash. 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