Mon 8th Mar 2021 - Exclusive: Oakman acquires bulk of ex-Seafood Pub Co business, Neve to head up new division Exclusive – Oakman acquires bulk of ex-Seafood Pub Co business, Neve to head up new division: The Oakman Group has acquired six former Seafood Pub Company sites out of administration, Propel has learned. As well as restoring some 150 jobs, Seafood Pub Company founder and former managing director, Joycelyn Neve, will join Oakman Group as managing director of a new Seafood Pub division, initially based in the north. She will be reporting directly to Oakman’s group chief executive Dermot King. Oakman said the acquisitions strengthen its aspirations to have 40 pubs in its portfolio by the end of 2021. The sites are Alma Inn, Colne; Derby Arms, Longridge; Farmers Arms, Great Eccleston; Fenwick Arms, Claughton; Fleece Inn, Addingham; and Forest Inn, Fence. The impact of the national lockdown and the additional restrictions in the north forced the then ten-strong Seafood Pub Group into administration in June last year. King said: “I am delighted we have acquired these sites, which will be the foundation stone for the third brand within our group – with the Seafood Pub joining the Oakman Inn and Beech House brands within our portfolio. Furthermore, these acquisitions will represent the next stage in our strategic development as we look to extend our boundaries beyond our Home Counties heartland. We believe there is significant untapped potential in the premium pub sector and I am not placing any upper limits on our ambition.” Neve added: “I have been a huge admirer of the Oakman Group, its ethos and its ambition. It has acquired the cream of the Seafood Pub Company sites and I’m confident, with the Oakman team’s support, we will prove to be enormously successful. My expectation at this stage is all six pubs will reopen on 17 May and we will immediately start work on putting our new teams together.” As part of the acquisition, Oakman Group has reviewed its structure for its next stage of growth. Alex Ford, who was, until recently, operations director, has been appointed managing director of Oakman Inns and will also report directly to King. Oakman Group founder and chairman Peter Borg-Neal said: “Alex has made considerable progress as a leader since joining us in 2014 and we are delighted to recognise his success with this appointment. He will be responsible for the development of the Oakman Inn and Beech House brands in the coming years. Joycelyn is a hugely talented retailer and will, with our support, now have the opportunity to build a bigger and better collection of Seafood Pubs across the UK. She will also add further expertise to our already impressive Oakman Group executive team and will contribute to the wider development of our business.” Last October, property advisory firm Christie & Co was appointed to market the ten sites formerly operated by Seafood Pub Company, which was placed into administration last June. Propel revealed in January the long leasehold of the Barley Mow in Barley Village, near Burnley, was acquired by a new independent operator, for just under £320,000. Three further former Seafood sites remain with the administrators BDO. Noel Moffitt, senior director at Christie & Co, who handled the sale on behalf of the administrators BDO, said: “The portfolio of inns attracted a huge amount of interest from a wide range of potential buyers including corporate, regional and local operators, as well as a number of high net-worth individuals. It is fantastic to see the Oakman Group expanding its geographical heartland from the south and Midlands into Lancashire and Yorkshire. The deal demonstrates the market is not as depressed as many would have you believe, although we are waiting for further clarity on the rent moratorium at the end of March and, if this isn’t extended, it is likely we may see more distressed assets coming to the market.” The deal was overseen by Oakman Group vice-chairman John Leslie. National law firm Freeths advised on the deal.