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Former Greene King chief swoops on former estate with £90m pubs deal
A pub group founded by the ex-boss of Greene King is in advanced talks to buy a swathe of sites from his former employer in a £90m deal.
Sky News has learnt that RedCat Pub Group, which was established by Rooney Anand during the Covid pandemic, is close to finalising the purchase of 39 pub-hotels from Greene King. Sources said a deal could be struck within days.
RedCat, which is backed by the US investor Oaktree Capital Management, has had a mixed track record since it was founded in 2021. The company trades from roughly 100 sites, about a third of which operate under a subsidiary called The Coaching Inn Group.
The unit has about 1,400 bedrooms, making it the fourth-largest pubs-with-rooms operator in the UK. One source said the deal with Greene King would double the size of that division by number of sites.
A small part of RedCat's operations fell into administration last year, since when a refinancing backed by Barclays has given the company significant financial breathing space. Mr Anand stepped down as Greene King's chief executive in 2019.
His latest deal comes amid dire warnings from hospitality chiefs about the prospects for the sector, amid swingeing tax hikes and jittery consumer confidence. Greene King declined to comment, while RedCat has been contacted for comment..
Amir Nisi
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