Background and Opportunity

  • Aggregation of a portfolio of freehold public houses in catchments in the UK where the food, beverage and accommodation is sub-standard compared to an affluent local catchment
  • Business plan is to upgrade the pubs; extending dining and residential accommodation and re-launching them as the pre-eminent local gastropub / boutique hotel offer
  • Revcap’s fund owns a minority interest in the Grosvenor management company

Transaction Progress

  • Four pubs acquired individually and a comprehensive refurbishment programme is ongoing
  • In Q1 2021, the group acquired a majority interest in a 10 pub group with its own brewing capability (redmistleisure.co.uk)

Current Status

  • A strong pipeline of potential acquisitions being evaluated across the UK
  • Grosvenor adapted well during the Covid-19 lockdown, offering take away food and beverage and providing a farm shop to the local community