NewRiver REIT has confirmed it is in exclusive talks to buy Hawthorn Leisure Holdings, which owns about 300 community pubs across England and Scotland.
The property company said it has “entered a period of exclusivity with Hawthorn and its major shareholder regarding a potential acquisition of the business” and “a transaction, if completed, would be funded from NewRiver’s existing resources”.
It added that there can be no certainty that a transaction will be concluded and a further announcement, as appropriate, will be made as soon as practicable.
Hawthorn, which is controlled by both its management and US private equity firm Avenue Capital, was put up for sale earlier this year form more than £115m via Sapient Corporate Finance, according to The Times.
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