The former boss of pubs giant Greene King has bought the Coaching Inn Group.
Rooney Anand, who ran Greene King for 14 years, snapped up the business’s 18 historic coaching inns through his investment vehicle, RedCat Pub Company.
The Coaching Inn Group was founded in 1996 and has sites, mainly in historic market towns, including the Cotswolds, Peak District and Cambridgeshire. One is The Swan in Stafford.
Current boss Kevin Charity and finance chief Edward Walsh will continue to lead and run the business within RedCat, and to build its presence, scale and momentum, the company said.
The amount paid was not disclosed, but is rumoured to be around £50 million.
RedCat was launched in February 2021 following the raising of £200 million from investors through its partner, Oaktree Capital Management.
It recently bought 42 pubs across England and Wales from Stonegate Pub Company and remains on the hunt to acquire more sites.
Bosses are looking to buy retail and tenanted pubs, as well as pub hotels across the UK to support growth after the pandemic.
Mr Anand, executive chairman of RedCat, said: “I’m delighted that the Coaching Inn Group is becoming part of RedCat. It’s a business I’ve long admired and Kevin Charity is a class act. I look forward to building our pub hotels business and building our business together.”
Mr Charity said: “I’m confident that, with RedCat’s support, we can continue our momentum and grow our footprint of historic pub hotels.”
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