Young’s has agreed to sell most of its tenanted pubs to Punch Pubs for £53m.
Punch will take over the lion’s share of the Ram Pub Company, comprising 56 tenanted pubs, leaving seven of the pubs in Young’s ownership.
The deal follows Young’s decision to withdraw from the tenanted pub sector to focus on freehold, managed pubs and hotels. Completion is expected in August.
Chief executive Patrick Dardis said: “Young’s sole focus will now be on operating well-invested and premium managed pubs and hotels.”
He added that cash from the disposal would be used to “capitalise on attractive acquisition opportunities that may come to the market”.
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