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Slug & Lettuce owner Stonegate to sell 1,000 pubs - report

By Michele Maatouk

Date: Wednesday 01 Feb 2023

(Sharecast News) - Be At One and Slug & Lettuce owner Stonegate Pub Co., which is owned by private equity firm TDR Capital, is reportedly planning to sell 1,000 of its pubs, or more than a fifth of the total, for an estimated £800m.
Bloomberg cited people familiar with the matter as saying that the sale is aimed at paying down debts, with soaring energy bills, persistent labour shortages and decades-high inflation driving up costs.

According to Bloomberg, Stonegate has appointed real estate investment bank Eastdil Secured to advise on the planned pub sale, which is expected to kick off by spring.

Stonegate declined to comment on the report.


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