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Wed 7th Sep 2016 - Stonegate acquires ten JD Wetherspoon pubs
Stonegate acquires ten JD Wetherspoon pubs: Stonegate Pub Company has acquired ten pubs from JD Wetherspoon in a deal that exchanged today (Wednesday, 7 September). The pubs, stretching from Hull to Newquay, bring the company’s estate up to a total of 664 sites. Acquisitions in the towns of Torquay, Berwick-upon-Tweed, Banbury, Cheadle Hulme, Walton-on Thames along with the addition of a pub in Finchley, north London, open up new trading opportunities for Stonegate whose presence is new in these areas. Chief executive Simon Longbottom said: “We have a strong track record in picking sites that when we invest, and add a touch of Stonegate magic, we see positive customer reaction and strong returns. The acquisition of a further ten sites from JDW enables us to extend our diverse range of formats in towns where we currently do not trade.” Completion is expected within the next few weeks, which will see some pubs close for immediate investment as they transform into one of the company’s seven trading formats. Further investment will be made in the remaining pubs over the coming months. The other pubs are in the towns of High Wycombe, Hull, Reading and Newquay.

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