Excellion Capital secures £110m credit facility for Red Oak Taverns

Press Coverage | 03 August 2022 | Kit Million Ross at Bridging and Commercial
Excellion Capital has arranged a £110m loan for independent pub company Red Oak Taverns.

Of the total sum, £60m will be used to refinance the company’s existing capital, while the remaining £50m is earmarked for purchasing new assets and investing into existing ones.

The loan was arranged over a six-year term and was secured against the 208 freehold pubs owned by the company.

Despite a challenging two years for the hospitality sector, Red Oak has seen significant growth, completing five acquisitions totalling 34 pubs during the 2021 lockdown alone.

Ashley Marks, managing director of Excellion Capital, said: “It was a pleasure working with Red Oak, which really impressed us with the quality of its management team and operations, especially given the challenges posed by the pandemic.

“Red Oak has proved to be an extremely strong operator in a challenging industry, and we’re glad to assist it in a transaction which will help turbocharge its next stage of growth.”

Mark Grunnell, co-founder and chief executive at Red Oak, commented: “We are pleased to have secured this facility and it has been a pleasure to work with Excellion.

“Our new financing provides us with the capital to continue to expand our portfolio and helps us along the next stage of our journey.”

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