The owner of Slug and Lettuce has scooped up another five London bars for its portfolio, with the acquisition of Sports Bar & Grill for an undisclosed sum.
Stonegate tops up its portfolio to comprise 703 sites nationwide with the buyout, and continues a recent acquisition streak following following its £100m takeover agreement for Revolution Bars.
The Sports Bar & Grill chain spans five sites in London, in Farringdon, Canary Wharf, Waterloo, Marylebone and Victoria. The acquisition gives Stonegate better access to commuters, by adding its first sites in transport hubs.
“This is another excellent bolt-on acquisition for Stonegate which is right in our sweetspot and further consolidates our leading credentials in sports-led entertainment," said Simon Longbottom, chief executive of Stonegate.
"We have long coveted a presence in key transport hubs and are excited about the opportunity which this presents."
“We have a proven track record of success in identifying, unlocking value and ultimately delivering higher returns from the pub assets which we acquire, as well as investing in the people within them. We look forward to welcoming our new colleagues into the enlarged group and providing our new customers – sports fans, families and commuters alike – with some great Stonegate hospitality.”
The new brand joins an expansive Stonegate portfolio which also includes Yates pubs and Australian-themed bar Walkabout.