Punch Pays $2B for Pubmaster Portfolio

LONDON-Punch Taverns will soon be able to add 3,110 leased and tenanted pubs to its stable of holdings. The deal brings the Punch portfolio to over 7,400 pubs.

By Graham Parker | November 07, 2003 at 01:01 AM

Pubmaster had over 3,110 leased and tenanted pubs, bringing the Punch portfolio to over 7,400 properties. As part of the deal Punch has assumed more than £1 billion ($1.7 billion) of debt.

Punch chief executive Giles Thorley says: "This is a transformational deal for Punch and represents a quantum leap in terms of Punch's growth. The Pubmaster Estate provides an excellent strategic and geographic fit with our existing portfolio and nearly doubles the size of our estate.

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