Avebury acquires 54 S&N pubs

Scottish & Newcastle (S&N) has sold 54 pubs to independent tenanted pub operator Avebury Taverns in a deal worth £22m.

The acquisition brings Avebury's total estate to 804 properties, and follows its purchase of 14 pubs from Honeycombe Leisure and 67 pubs from Stanford Pub Company.

The S&N pubs are located throughout the UK and are either leased or tenanted.

David Myers, Avebury's managing director, said: "Not only does this acquisition move us forward in terms of ambitions for growth but, more importantly, it provides a further demonstration of our commitment to upgrade the estate by adding better quality and more profitable pubs."

Avebury, based in Buckinghamshire, is controlled by venture capitalist Cabot Square Capital, which is understood to be looking to sell its stake.