RSM's transaction services and tax teams provided financial and tax due diligence on behalf of Young & Co.’s Brewery, PLC on its £34m acquisition of multi-site operator Redcomb Pubs, a major player within the independent pub company sector.
Young’s are a leading operator of pubs and hotels across London and the South of England. Redcomb Pubs, which was founded by Dan Shotton and Mark Draper in 2009, has a portfolio of 15 pubs, bars, restaurants and pubs with rooms across London and the Home Counties.
This latest acquisition represents an excellent opportunity to continue the growth of the Young’s managed estate in line with their expansion strategy focused on high quality managed houses.
The RSM team’s involvement included financial and tax due diligence work together with associated advice in connection with the transaction, continuing the team’s history in assisting Young’s on a number of earlier deals.
RSM's due diligence and transaction team was led by Peter Vandervelde, Simon Adams and Gary Shortman.
Patrick Dardis, CEO of Young and Co's Brewery PLC said:
'This was an exciting and important acquisition for us and RSM gave us valuable support throughout the whole process. They were committed, efficient and able to demonstrate a real understanding of the sector and our approach to expansion in the market, which provided a clear picture of the Redcomb business, and the individual sites that will be added to the Young’s estate. The RSM team were able to adapt their approach as the transaction evolved to allow us to progress the negotiations through to a successful completion.'