Upham Inns, a premium pub operator in southern England, has acquired 14 pubs from Oakman Inns & Restaurants following the company’s entry into administration on Monday, 21 July.
It is understood that the deal includes the freehold of The Three Locks in Stoke Hammond, Buckinghamshire, along with 13 leasehold pubs. Among them, are The Beech House locations in Amersham and Beaconsfield.
The acquisition effectively doubles Upham Inns’ existing estate. Not included in the transaction are The Beech House in Watford and three other sites, which remain under the control of the administrators.
Kevin Todd, executive chairman of Upham Inns, said: “We have been long term admirers of the Oakman Inns pub estate and the quality of their team and their offer, ever since Peter Borg-Neal founded the group in 2007. We look forward to welcoming the new team into our family and working together to create an exciting premium pub group, now with 28 fabulous locations. Upham Inns are currently in Southern locations, and this deal extends our coverage into the Midlands and south east.”
PwC, which had been advising Oakman Inns on its strategic options, was appointed joint administrator and facilitated a pre-packaged sale of the majority of the business and assets to Upham Inns. The transaction has ensured the continued operation of most of the Oakman estate and safeguarded a significant number of jobs.
Upham Inns is a group of countryside inns located across Hampshire, Winchester, Warminster, and Ascot.
The Oakman Group was established by Peter Borg-Neal with the opening of its first pub, The Akeman in Tring in 2007. It operates approximately 30 pubs and hotels in rural and suburban areas throughout England. The company employs over 1,600 people.
In May, amid reports of a potential sale, Oakman sold 10 freehold pubs to the Restaurant Group’s Brunning & Price in a deal reportedly valued between £50 million and £100 million, according to Sky News.
Earlier in February 2024, Oakman ended its management agreement with the Seafood Pub Company, a chain it had rescued from administration in 2021.
Additionally, in November 2023, the company sold two of its pubs to McMullen’s as part of a broader strategic review aimed at attracting new investment.
