Stonegate is seeking to acquire Ei for c.£1.3m. However, shareholders still have to vote on the deal, which also has to be approved by various competition authorities. About Us. Ei Group chairman Robert Walker said: “In 2015, we set out a new strategy. During the past four years, we have made great progress in its execution and have delivered a significant increase in value for our shareholders. 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. Stonegate Pub Company has announced a multi-million support package for publicans within the recently acquired Ei Publican Partnerships leased and tenanted business. Our goal is to help entrepreneurial publicans thrive in local communities by giving them the opportunity to run their own pubs. Ei Group is totally committed to the delivery of our Corporate Social Responsibility (CSR) strategy. The deal would mean Stonegate’s estate would rise by 4,000 sites, making it the largest pub owner. Read the latest news and information on our company and brands. 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 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. 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. 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. 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 The company was formed in 2010 by private equity firm TDR Capital after it purchased 333 pubs from Mitchells & Butlers in a £373m deal. by. Discussions about the acquisition have been taking place for several weeks, before a deal was finally announced this morning. EI investors can certainly feel justified in opening a bottle of the nearest frizzante in celebration. July 18 2019. 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 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. View scheme document and notices of shareholder meetings. This site uses cookies. 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. MA500 Business Club. contact, 18-Jul-2019 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 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. “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: Copyright © 2020 Ei Group, ​​​​​​​Field Operations – Regional Management. 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. 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. 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. For more details about cookies and how to manage them see our cookie info. 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 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. Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). 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. 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”). View Stonegate - supplementary presentation. The Competition and Markets Authority (CMA) has given conditional approval for Stonegate's £1.27b acquisition of Ei Group. Stonegate agreed to buy Ei Group for £1.27bn ​ last year (July). 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. 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). We also have opportunities all over the country to run your own pub. Ei Group, 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. Get the latest news, analysis and insights from the uk pub sector straight to your inbox! 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, which is backed by the private equity firm TDR Capital, agreed a £3bn takeover of Ei Group in July 2019. 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). Stonegate yesterday revealed it will pay £1.3 billion and assume all of Ei Group’s debt in a deal worth £3 billion. - Last updated on Stonegate to acquire Ei Group. Solihull, West Midlands B90 4SJ, Registered in England & Wales In August 2013, Stonegate acquired 13 Living Room sites from Premium Bars & Restaurants. Company no: 2562808 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. The acquisition valued Ei Group’s entire business at near £3bn, including its debt and adjusted for the recent disposal of 370 commercial properties. Free newsletter Free newsletter In July 2019 Stonegate Pub Company announced its intention to acquire Ei Group for £1.27 billion. Pub operator Ei Group said the High Court of Justice in England & Wales approved the acquisition of the company by Stonegate Pub. Stonegate is an experienced managed pub operator, with a record of investing more than £350m into its estate since 2010, including £71m in 2018. Stonegate is a managed pub company and has a national estate of over 765 operating outlets. 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. 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. 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. 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. 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. Ei Group is the largest owner of pubs in the UK, with over 4,000 sites across England and Wales. Subscribe, By Nicholas Robinson Stonegate’s managed pubs division is split into Branded and Traditional (unbranded) pubs. Its portfolio is comprised of 1,289 sites within the managed division and 3,284 leased and tenanted businesses (Ei Publican Partnerships). “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.”. 26-Jul-2019 at 07:11 GMT. 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. 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. 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". 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. 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. STONEGATE PUB COMPANY BIDCO LIMITED. Branded is comprised of: Slug & Lettuce, Walkabout, Be At One and Venues, (including Popworld and Fever). Stonegate is an experienced managed pub operator, with a record of investing more than £350m into its estate since 2010, including £71m in 2018. 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. 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. 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. By continuing to browse the site you are agreeing to our use of cookies. Sign up to our free newsletter and get the latest news sent direct to your inbox. The CMA said: "The CMA is therefore concerned that, if the businesses were to merge, pub goers in those … important disclaimer. 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. 3 Monkspath Hall Road, Who we are; Our businesses; Responsibility; … Ei GROUP PLC. “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. Stonegate sells 1.2 billion pounds of bonds to finance deal with Ei Group. 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. Them see our cookie info, stonegate acquired 13 Living Room sites from Premium Bars & Restaurants Lettuce Walkabout. 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