Our goal is to deliver fantastic customer experiences. 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. The takeover of Ei Group will add almost 4,000 new pubs to Stonegate Pub Company’s 765 existing locations, eclipsing its past takeovers. Subscribe, By Stuart Stone $(document).ready(function() { “Our aim, as a company, is to create a portfolio of attractive inns of which we can be very proud. 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. “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.”. “It will be the jewel in our crown. Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). View scheme document and notices of shareholder meetings. Our Standards: The Thomson Reuters Trust Principles. return vOut; - Last updated on } 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. 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. Sign up to our free newsletter and get the latest news sent direct to your inbox. Die Stonegate fertigt, verkauft und montiert Naturstein Fensterbänke, Waschtischplatten, Tischplatten und Arbeitsplatten nach Mass aus Granit, Schiefer und Marmor. vOut = vOut.toLowerCase(); 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. More about: | Business | Ei | stonegate Ei owns 4,000 pubs. 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”). dataLayer.push(dataLayerNews); Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). Wir die Stonegate Natursteine GmbH wurde gegründet 2007 in Köln und hat heute Ihren Sitz in Köln Rodenkirchen. “We are excited to be broadening our customer base and presence here in Yorkshire with the addition of a Northallerton location to our group. 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. contact, 02-Dec-2020 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. Stonegate, which is backed by the private equity firm TDR Capital, agreed a £3bn takeover of Ei Group in July 2019. Stonegate Pub Company has announced a multi-million support package for publicans within the recently acquired Ei Publican Partnerships leased and tenanted business. 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. Ensuring a fair balance of support and assistance across the estate, all tied publicans operating on substantive agreements that are not in receipt of Government grants will receive a three-month rent credit […] “We have a proven track record for repurposing and enhancing historic buildings,” he continued. Our goal is to deliver fantastic customer experiences. (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. 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. Reuters reported late in June that Stonegate was set to raise money via a high-yield debt issue to help finance the purchase of Ei. 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. About Us. The shareholders of Ei, which was previously Enterprise Inns, accepted the offer by Stonegate in September 2019. 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. 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. The new venue will close for a five-figure refurbishment early in 2021 before reopening. 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. (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. 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. Ei Group is the largest owner of pubs in the UK, with over 4,000 sites across England and Wales. “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. if(i!=(aTags.length-1)) The CMA is investigating the anticipated acquisition by Stonegate Pub Company Limited of Ei Group … 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. Get the latest news, analysis and insights from the uk pub sector straight to your inbox! { 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. 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. Stonegate agreed the deal for Ei, the 4000-strong pub group, in July. important disclaimer. 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. var reg = new RegExp('\\W+', "g"); View Stonegate - supplementary presentation. 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. Stonegate also has a strong record of investing in its estate over the past nine years, to the tune of over £200m, he added. Find out more. 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. From January the integrated businesses will be headquartered in Ei Group's former head office in Solihull, Birmingham. 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. 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. August 15 2019 . 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. It has 1270 sites within the managed division and 3457 leased and tenanted businesses. 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. 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 […] Free newsletter Who we are; Our businesses; Responsibility; … 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. All quotes delayed a minimum of 15 minutes. 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. 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