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Punch Pubs sold to US private equity investor Fortress
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Punch Pubs has been bought by the private equity investor Fortress in a deal for almost 1,300 British pubs thought to be worth as much as £1bn.
The company’s pub landlords employ about 20,000 people, although Punch employs only 280 people directly.
Punch owns more than 90% of the freeholds of its properties, making it an attractive target for private equity owners. It is also focused on rural and suburban pubs which have been less affected by absent commuters than city centre-focused chains.
Fortr
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