ei group stonegate

Stonegate Pub Company / Ei Group plc merger inquiry The CMA is investigating the anticipated acquisition by Stonegate Pub Company Limited of Ei Group … - Last updated on We have four businesses, each delivers a distinctive operating model. important disclaimer. If approved the merger will create the UK’s largest pub group with almost 5,000 sites, including Stonegate’s Slug & Lettuce and Walkabout chains. Following the shock announcement this morning that Stonegate has agreed to buy Ei Group and its 4,000 sites, making Stonegate the UK’s largest pub owner – should the deal go through – Longbottom told MA it would be prepared to invest in all aspects of the estate. MA500 Business Club. 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. Find latest news, information and presentations to help you understand our business.. We are always looking for talented people to join either our head office team, one of our Group businesses, or to manage or work in one of our pubs. 3 Monkspath Hall Road, 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 for the period April to June. The operator, which owns brands including the recently acquired Be At One and Slug & Lettuce, currently has over 760 sites, a number it has reached incrementally since buying 333 sites from Mitchells & Butlers almost a decade ago. July 18 2019. View scheme document and notices of shareholder meetings. In July 2019 Stonegate Pub Company announced its intention to acquire Ei Group for £1.27 billion. Stonegate is a managed pub company and has a national estate of over 765 operating outlets. We also have opportunities all over the country to run your own pub. By continuing to browse the site you are agreeing to our use of cookies. 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 UK's leading pubs business 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. Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and … For more details about cookies and how to manage them see our cookie info. The deal would mean Stonegate’s estate would rise by 4,000 sites, making it the largest pub owner. Branded is comprised of: Slug & Lettuce, Walkabout, Be At One and Venues, (including Popworld and Fever). Discussions about the acquisition have been taking place for several weeks, before a deal was finally announced this morning. That same month and year, Stonegate pursued the acquisition of Ei Group in a £3 billion deal which will "add almost 4,000 new pubs to Stonegate Pub Company’s 765 existing locations". In June 2015, a further 15 sites were acquired from Scottish pub, bar and hotel operator, Maclay Inns, and later that same year Stonegate acquired 53 pubs from Tattershall Castle Group (TCG) including the Henry's Café Bar and Tattershall Castle brands. In January 2016 the company began a programme to update the former TCG estate pubs and re-brand many of the venues to Slug & Lettuce to further expand the brand. Stonegate sells 1.2 billion pounds of bonds to finance deal with Ei Group. Free newsletter The CMA said: "The CMA is therefore concerned that, if the businesses were to merge, pub goers in those … “We plan to leverage our existing managed house infrastructure, portfolio of formats and access to capital and invest in the combined estate for the benefit of all stakeholders.”, 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: We recognise our duty to operate the business in an ethical and responsible manner. Sign up to our free newsletter and get the latest news sent direct to your inbox. “At Stonegate, we have an established track record of running successful pubs throughout the UK – with over £350m having been spent on capital expenditure at Stonegate since it began trading in November 2010. The company also won five awards at last year’s Publican Awards, including Best Pub Employer, Best Managed Pub Company and Best Community Pub Operator. August 15 2019 . In January 2019, Stonegate acquired Bar Fever Ltd (Fever Bars) – 32 venues comprising 29 bars, including Fever Boutique, Zinc and Moo Moo, as well as three Bierkellar Bavarian pubs and a further six sites from Novus Leisure. 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 yesterday revealed it will pay £1.3 billion and assume all of Ei Group’s debt in a deal worth £3 billion. 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. The Group optimises value creation for its stakeholders by ensuring the right offer is available in each of its assets, supported by the best people under the most appropriate operating model. Our goal is to help entrepreneurial publicans thrive in local communities by giving them the opportunity to run their own pubs. Subscribe, By Nicholas Robinson Later that year, Stonegate exchanged on a package of 10 JD Wetherspoon pubs and acquired Walkabout owner Intertain, adding a further 30 sites to its portfolio. Stonegate is an experienced managed pub operator, with a record of investing more than £350m into its estate since 2010, including £71m in 2018. Ei Group is the largest owner of pubs in the UK, with over 4,000 sites across England and Wales. Stonegate is seeking to acquire Ei for c.£1.3m. This week the Stonegate Pub Company agreed to buy 100% of the share capital of EI Group at 285p, representing a 38% premium to last Friday’s price, in a deal worth £2.96 billion including net debt of £2bn. Stonegate’s managed pubs division is split into Branded and Traditional (unbranded) pubs. 26-Jul-2019 at 07:11 GMT. Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). Stonegate is an experienced managed pub operator, with a record of investing more than £350m into its estate since 2010, including £71m in 2018. Both companies said there were strong strategic reasons for the buyout, including their “complementary portfolios” and skills within the businesses, which would benefit customers, tenants, employees and other stakeholders. The acquisition valued Ei Group’s entire business at near £3bn, including its debt and adjusted for the recent disposal of 370 commercial properties. 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. The CMA says it has ‘reasonable grounds for believing’ that the proposals will be acceptable and has until 19 February to formally decide whether to approve the tie-up. View Stonegate - supplementary presentation. Company no: 2562808 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. to be effected by means of a Scheme of Arrangement under Part 26 of the Companies Act 2006 UPDATE ON COOPERATION AGREEMENT. by. It has found that the deal does not raise competition concerns on a national level, but that there would be reduced choice for pub-goers in 51 local areas. During the past four years, we have made great progress in its execution and have delivered a significant increase in value for our shareholders. The Competition and Markets Authority (CMA) has given conditional approval for Stonegate's £1.27b acquisition of Ei Group. September 12 2019. Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). The Competition and Markets Authority (CMA) has asked the two companies to propose answers to its concerns that pubgoers could face price hikes and lower-quality products after a takeover. 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, which is backed by the private equity firm TDR Capital, agreed a £3bn takeover of Ei Group in July 2019. The move will make Stonegate the UK’s largest pub operator, with close to 5,000 properties. The proposed sale of 42 pubs might allay the Competition and Markets Authority's (CMA) concerns over Stonegate's £1.27b acquisition of Ei Group. Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). 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”). Stonegate began trading in November 2010 following the acquisition by Stonegate of 333 pubs from Mitchells & Butlers and has since grown in size and scale through a series of strategic acquisitions. 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). Solihull, West Midlands B90 4SJ, Registered in England & Wales However, shareholders still have to vote on the deal, which also has to be approved by various competition authorities. 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. Pub operator Ei Group said the High Court of Justice in England & Wales approved the acquisition of the company by Stonegate Pub. Stonegate agreed to buy Ei Group for £1.27bn last year (July). As our managed business grows we will grow our capabilities to deliver sustainable operating procedures which are mindful of the environment and the local community. This site uses cookies. Ei Group, About Us. Ei Group is totally committed to the delivery of our Corporate Social Responsibility (CSR) strategy. “The management team have done an outstanding job and the acquisition, at a significant premium, is only possible because of the work that they have done and what has been achieved.”, Walker added: “The acquisition delivers the future value of the strategy for our shareholders and secures an exciting future for our tenants and employees by creating the leading managed and tenanted pub company in the industry.”. The owner of the Slug and Lettuce, Walkabout and Yates chains has been given the green light to buy Ei Group in a deal that will create Britain’s largest pubs company.The Competition and Markets Our CSR strategy, agenda and implementation plans are developed for Ei Group people and operations and to help, support and influence all of our publicans. contact, 18-Jul-2019 At the heart of every successful pub business is a great publican and we’re here with help and advise to make every publican great. EI investors can certainly feel justified in opening a bottle of the nearest frizzante in celebration. Get the latest news, analysis and insights from the uk pub sector straight to your inbox! Ei Group, the pub operator being bought by Slug and Lettuce owner Stonegate, reported that earnings dropped this year after the disposal of 354 venues. 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. We have opportunities for people with the drive, ability and ambition to run one of our directly managed pubs or to enter into a managed partnership with us. Who we are; Our businesses; Responsibility; … 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. Read the latest news and information on our company and brands. Free newsletter 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 STONEGATE PUB COMPANY BIDCO LIMITED. 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. Stonegate Pub Company must assure a watchdog that its prices will not rise in the aftermath of its proposed acquisition of Ei Group’s portfolio. For more information relating to this announcement, please click on the following link. The company was formed in 2010 by private equity firm TDR Capital after it purchased 333 pubs from Mitchells & Butlers in a £373m deal. View Regulatory Annoucement - Results of Court & General Meetings. Ei GROUP PLC. Further acquisitions took place in 2017 and 2018 with the company acquiring the Sports Bar & Grill concept (2017), Be At One, and 15 Novus Leisure sites (2018). Ei Group (EIG) is set to be taken over by Slug & Lettuce owner Stonegate Pub Company in a deal that values the pub group at an enterprise value of £2.97bn, in an agreement that has pleased some shareholders. Ei Group plc ("EIG") announces that EIG, Stonegate Pub Company Limited and Stonegate Pub Company Bidco Limited ("Stonegate") have agreed to enter into a new cooperation agreement, … View recommended offer. Copyright © 2020 Ei Group, Field Operations – Regional Management. In August 2013, Stonegate acquired 13 Living Room sites from Premium Bars & Restaurants. For more information visit https://www.stonegatepubs.com, Ei Group Stonegate Pub Company is multi-award-winning for its business performance and commitment to developing its people. Originally trading from rented offices near Birmingham airport it then moved its operations office to Capability Green in Luton in June 2011 when Stonegate merged with Town & City Pub Company, creating the largest privately held managed pub operator in the UK and acquiring the Yates's and Slug and Lettuce brands in the process. Stonegate Pub Company has announced a multi-million support package for publicans within the recently acquired Ei Publican Partnerships leased and tenanted business. Stonegate chairman Ian Payne said: “It is an exciting prospect to bring EIG and Stonegate together to create a diversified pubs group with significant industry expertise. Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). In July 2019, Ei - formerly know as Enterprise Inns - agreed to a takeover offer from Slug & Lettuce-chain owner Stonegate. Subscribe 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. The private equity owner of the Slug and Lettuce chain has acquired the UK’s largest pub operator in a £3bn deal that will increase the size of its estate by more than six times. Ei Group chairman Robert Walker said: “In 2015, we set out a new strategy. Stonegate to acquire Ei Group. 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. Read more. Ei Group accepts 285p per share offer from Stonegate Pub Company: The boards of directors of Ei Group (EIG) and Stonegate Pub Company Bidco Limited, a wholly-owned subsidiary of Stonegate Pub Company, have reached agreement on the terms and conditions of a recommended all-cash acquisition of Ei Group. 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