Red Lion Holdings acquires majority stake in Red Mist Leisure pub portfolio
Specialist business property advisor, Christie & Co has completed on the sale of Red Mist Leisure (RML), a pub company with pubs and inns across Surrey and Hampshire, to Red Lion Holdings LLP (RLH) – a joint venture between experienced industry investors David Ramsey, Jason Myers and leading European real estate private equity investor, Revcap.
Since its foundation in 2004, Red Mist Leisure has grown into a profitable collection of ten high-quality, managed gastropubs dedicated to delivering an authentic and genuine, family-friendly pub experience with a premium food offering.
Having identified a number of opportunities for further expansion, the company made the decision to bring their portfolio to market through Christie & Co in order to seek a new equity partner who could help drive the business forward.
Mark Robson, Managing Director at Red Mist Leisure, says: “This investment is an exciting and very positive development for our company, our teams and our customers. I am so proud of what Red Mist has achieved since we started in 2004 and this new equity injection provides us with the capital to expand our business in the future. We are very grateful to Neil Morgan and his team at Christie and Co for brokering this deal during such challenging and unprecedented times and we are very excited to get the next chapter of our journey underway.”
Jason Myers, Principal at Red Lion Holdings, comments: “On behalf of the shareholders of RLH, we are very pleased to have worked with Christie and Co to bring Red Mist into the RLH family. It’s a testimony to the dedication of all parties and stakeholders that we successfully completed this exciting deal during this period. This new structure and significant investment will put Red Mist (and RLH) in an excellent position to capitalise on these opportunities and we look forward to working with Neil and the team at Christie & Co on future transactions.”
The project was led by Neil Morgan, Senior Director in Christie & Co’s Corporate Hospitality Team.
Morgan adds: “We are delighted to share such a positive news story in light of the challenges the hospitality sector faces at present, due to COVID-19. The deal demonstrates the strong demand and confidence that remains for managed houses, which are currently in short supply. As such, we continue to receive very high levels of interest for businesses of this kind.
“It was a pleasure working with the senior team at Red Mist Leisure and Red Lion Holdings LLP in securing the transaction and we look forward to continuing the relationship in aiding their expansion.”