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Stonegate in merger agreement
Stonegate Pub Company has merged with Town&City Pub Company, its private equity backers TDR said yesterday. The new group operates 560 pubs with revenues near £500m and employs over 10,000 people. The merger with Yates’s and Slug & Lettuce operator Town&City creates the largest privately held managed pub operator in the UK after Stonegate bought 333 Mitchells & Butlers pubs last year.