HEINEKEN UK’s £1.15 Billion Acquisition of Punch Securitisation A


DLA Piper is advising HEINEKEN UK on its proposed acquisition of Punch Securitisation A, a portfolio of approximately 1,900 UK pubs owned by Punch Taverns plc (enterprise value £1.15 billion).

The acquisition is conditional on completion of the recommended cash offer for the entire issued and to be issued share capital of Punch Taverns that was announced earlier today by Vine Acquisitions Limited, a company formed by Patron Capital.

HEINEKEN UK entered the pub market as part of its acquisition of Scottish & Newcastle’s UK operations in 2008. Since then, HEINEKEN UK has made significant progress building its Star Pubs & Bars business, having invested over £20 million per annum since 2014, resulting in an estate now comprising 1,049 leased and tenanted pubs. The Punch Tavern pub portfolio is highly complementary to the existing pubs business and will be fully integrated into Star.

The DLA Piper Corporate team is being led by Global Co-chair of Corporate Bob Bishop (Picture), alongside partners Mark Chivers and Tim Wright and senior associate Chris Arnold.

Involved fees earner: Robert Bishop – DLA Piper; Mark Chivers – DLA Piper; Tim Wright – DLA Piper; Chris Arnold – DLA Piper;

Law Firms: DLA Piper;

Clients: Heineken UK Limited;

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