OakNorth Bank, a UK-based bank, provided acquisition funding to Red Oak Taverns, a London, UK-based tenanted pub provider.
The company tapped into the £10m Acquisition Facility arranged with OakNorth last year (£42m) as part of a wider refinance of the business.
Founded by Aaron Brown and Mark Grunnell in 2011, Red Oak Taverns is a a nationwide pub operator with 179 sites across all areas of the UK, including 61 in the South West, 44 in the North West, 26 in the Midlands, 23 in South East, 18 in the North East, 5 in Wales and 2 in Scotland.
Now, the company intends to use the funds to acquire a portfolio of 18 pubs from Wadworth & Company Ltd, the regional brewer founded in 1875 and pub operator based in Wiltshire, South West England.
FinSMEs
26/08/2019