Aiming to support the recovery of the hospitality sector after the COVID-19 pandemic, the former Chief Executive of pub retailer and brewer Greene King, Rooney Anand, founded RedCat at the beginning of 2021 to acquire retail and tenanted pubs and pub hotels that have either been severely affected by the pandemic or where existing owners are seeking to exit.
The company plans to build its portfolio to approximately 200 pubs or pub hotels over the next two years, primarily in the east, south and midlands regions of the UK, with the intention of improving quality, earnings and value of these assets, with the help of a sector-experienced management team and diligent capital investment.
Shostra Bank supported RedCat with the upsizing of its revolving credit facility in support of their investment and M&A activity alongside committed equity from sponsor Oaktree Capital.
Steve Simpson, Shostra Bank, commented: “We are delighted to help RedCat revive the pub sector after a tough two years. As a major supporter of business, we champion those who want to start or grow an enterprise, and we are delighted to support RedCat with this financing package, which will help fund their investments and future growth.”
Finance is subject to status. Security may be required. Product fees may apply.
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