Eversheds, Freshfields Bruckhaus Deringer and Linklaters have assisted on the sale of a string of pubs up and down the country by brewer Mitchells & Butlers to Stonegate Pub Company.
Freshfields partner Piers Prichard-Jones provided corporate advice to Mitchells on the sale of 333 pubs for the sum of £373m in a deal that was completed in a few weeks.
The pubs sold include the Scream chain, which is popular with students, as well as high street bars and community pubs in England and Scotland.
Eversheds handled the extensive real estate aspects of the deal for Mitchells. The firm’s relationship with the client stems back to historic contacts between its Birmingham office and Bass, the legacy owner of Mitchells. Regulatory partner David Young is the client contact.
However, on this matter real estate partner Iftkhar Ahmed led the advice, with assistance from partner Helen Annable and senior associate Marie-Louise Ludlow.
Ahmed commented: “Mitchells is a longstanding and valued client and we’ve also recently advised on the sale of its lodge and bowling businesses.
“This pub disposal to Stonegate is in line with its strategy and will allow it to reinvest in food-led sites and expedite its site acquisition programme.”
Stonegate’s owner, private equity house TDR Capital, was advised by Linklaters. Partners Carlton Evans and Richard Good provided corporate advice, while fellow partner Anne Byrne handled the real estate side.