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 (www.grosvenorpubs.com)
- 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
