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Young's finalises acquisition of City Pub Group for £162 million

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

The agreement, initially disclosed in November of last year, was approximated to be valued at £162 million.

At the time, Young's expressed that the transaction presented a 'rare opportunity' to expand its managed trading estate by 50 pubs, bringing the total to 279 pubs.

The agreement will result in Young's extending its footprint to encompass new geographic regions, 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.'