C&C Group has teamed up with Proprium Capital Partners to acquire Admiral Taverns from Cerberus Capital Management.
C&C will invest £37m to acquire a 47% stake in the pubs group, with Proprium taking the remainder.
Admiral operates 845 tenanted pubs. C&C, which owns the Bulmers and Magners cider brands, said the deal would provide its brands with improved distribution.
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