Young's completes £162m City Pub Group acquisition

Young's has completed its acquisition of City Pub Group, which comprises 51 wet-led pubs across southern England and Wales.

The deal, first announced in November last year, was estimated to have been worth £162m.

At the time, Young's said the transaction represented a "rare opportunity" to increase its managed trading estate by 50 pubs to 279 pubs.

The deal, which became effective today (4 March), will see Young's footprint expand to new geographic areas, including Cambridge and Norwich.

Simon Dodd, chief executive of Young's, said: "City Pubs is a business we have admired for some time, and we are delighted to welcome our new team to the Young's Group.

"City Pubs brings a portfolio of predominantly freehold pubs which are closely aligned with our estate and have a strategy of operating premium, individual and differentiated pubs and bedrooms.

"Sharing a similar culture, its team delivers a quality offering and the highest standard of customer service to their communities."