The owner of The Head of Steam pub chain has sold a number of North pubs to a growing London hospitality vehicle.
Camerons Brewery has disposed of 27 tenanted pubs for an undisclosed sum, selling the sites to FB Taverns as part of a strategic move to support growth across its brewery and managed pub division. The deal comes eight months after a large number of its franchised, leased and tenanted pubs in its portfolio were put up for sale.
Pubs in the deal are believed to include the Top House in Stanley, the Mill House in Hartlepool, the Lambton Arms in South Shields and the King’s Head in Bishops Auckland.
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Following the disposal, Camerons will continue to operate 47 pubs across the UK. The business, which also sells beers and ales brewed at its Hartlepool brewery, will maintain its managed pubs including its flagship brand, The Head of Steam. Camerons acquired the popular brand, which began with its first pub on Newcastle’s Neville Street, back in 2013 and it has since expanded and now has 15 sites across the UK.
Other hostelries remaining under Camerons Brewery ownership include its Urban Country Pubs brand, formed in July 2016 following the purchase of seven venues from Leeds Brewery. The move comes a year after the firm – which previously had 34 managed and 43 franchised pubs – announced a return to profit, having seen profits plummet during two full lockdowns.
Under FB Taverns’ ownership, the businesses will remain as pubs and will continue to support their local communities. FB Taverns was founded in 2022 with the intention of growing a business primarily focused on wet-led community pubs. The company acquired six tenanted and two managed pubs from Tadcaster Pub Company in February and also acquired seven sites from Admiral Taverns last June.
Camerons’ strategy involves focusing on its existing beers and lagers – which include flagship beer Strongarm and Motörhead collaboration brew Röad Crew APA – while also exploring new opportunities. The firm has made additional developments in its onsite microbrewery, Tooth & Claw, to give the brewer the opportunity to develop more innovative beer styles.
Chris Soley, chief executive at Camerons Brewery, said: “The disposal of our tenanted pubs provides a strong platform for us to focus on investment for growth within both our brewing facility and managed pub estate. We are delighted to have completed the transaction with FB Taverns who are focussed on supporting the further development of community pubs. We wish the licensees all the best for the future and would like to thank them for their contributions while working with Camerons.”
Camerons worked with Simon Johnson of CBRE and the Weightmans legal team, led by Duncan Reid, which provided advice and completed the legal aspects of the sale.
