RedCat Pub Company acquires tenth coaching inn

RedCat Pub Company, an investment vehicle founded and chaired by Rooney Anand to invest in the UK pub sector, has acquired two hospitality venues on the North Norfolk coast: the Pheasant hotel and Blakeney Manor.

These are the ninth and tenth acquisitions by the Coaching Inn Group under RedCat ownership and bring the number of pub hotels owned by the Coaching Inn Group to 28.

The Coaching Inn Group, acquired by RedCat last August, operates historic coaching inns in market towns across the UK, in areas including the Cotswolds, Peak District, Leicestershire, Staffordshire, and Cambridgeshire.

The Pheasant hotel in Kelling is a luxury country house hotel was entirely renovated in 2013 and has 32 bedrooms; while Blakeney Manor is a Grade II-listed property, parts of which date to the 16th century. The property became a hotel in the 1960s.

Since Anand founded RedCat in February 2021, the group has acquired more than 100 pubs and pub hotels, amounting to a hotel room estate of over 1,000 rooms.

Kevin Charity, chief executive of the Coaching Inn Group, said: "I'm proud to have reached the milestone of our tenth acquisition, since obtaining RedCat's support last August. With these acquisitions, we're focusing on targeting the highly active tourism market in scenic North Norfolk and I'm looking forward to continuing to build a very attractive portfolio."

Anand, executive chairman of RedCat, said: "With RedCat's support, the Coaching Inn Group team has done a great job, focusing on running high-quality pub hotels across the country which will offer customers the best possible service and good value. North Norfolk is a jewel in the UK's tourism crown and I look forward to catering to international travellers and staycation destination customers who want to experience the area."

Tim Gooding, director at Christie & Co, who brokered the deals, added: "It was a pleasure to broker these two simultaneous pub hotel sales for our respective clients and work closely again with RedCat, supporting their latest acquisitions. We have known the businesses for many years, with the Pheasant hotel being a best-in-class destination venue. Similarly, Blakeney Manor draws year-round trade due to its exceptional location, arguably the finest along the North Norfolk coastline, which was a key driver in the acquisition."

RedCat is backed by funds managed by Oaktree Capital Management. RedCat's strategy is to acquire quality inns, managed and tenanted pubs across the UK, including single pub assets through to larger businesses and pub companies. It aims to provide the operational expertise and capital investment pubs need to get back on their feet and accelerate their growth, as the sector recovers from the pandemic.