Laurel buys Yates for £202m

23 May 2005
Laurel buys Yates for £202m

The £202m sale of pub and restaurant operator Yates to the Laurel Pub Company was confirmed on Friday (20 May).

The integration of the two estates will create a group with more than 300 sites.

The 160-strong Laurel Pub Company, which was formed in 2001 after a buyout from Whitbread, was acquired by Iranian property tycoon Robert Tchenguiz last December for £151m. Yates was one of the bidders for the group.

Yates was acquired by Thorium, a UK subsidiary of private equity firm GI Partners, last autumn for £155m.

The group operates 126 Yates bars, 23 food-led Ha!Ha! Bars, and the Forno Vivo restaurant in Tring, Hertforshire. Earlier this year, it bought seven mostly Mexican-themed restaurants under the Santa Fe name.

It is unclear at this stage what impact the takeover by Laurel will have on Yates's £60-£75m bid for the struggling SFI pub group which it tabled last March. However, Tchenguiz himself has also been linked to a bid for SFI.

Buy this week's Caterer magazine for more industry news and analysis

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking