Upham Inns acquires bulk of remaining Oakman Inns business: Upham Inns, the southern England premium pubs operator, has acquired 14 pubs from Oakman Inns & Restaurants after the business went into administration earlier today (Monday, 21 July). Propel understands the deal includes the freehold of The Three Locks in the Buckinghamshire village of Stoke Hammond and 13 leasehold pubs including The Beech House sites in Amersham and Beaconsfield, and doubles Upham’s existing business. The Beech House in Watford and three other sites are not part of the package and will 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 on its options, was appointed as joint administrator of the business and completed a pre-packaged sale of the majority of the business and assets to Upham. The deal has allowed the continued operation of the majority of the Oakman estate and the protection of a substantial number of jobs. Last month, Propel revealed that the bulk of the Oakman leasehold estate had been brought to the market. It is thought the package, which was being marketed under the name Project Zeus, had a combined valuation of circa £15m-£20m. In May, Propel revealed that Oakman had sold ten of its freehold pubs to The Restaurant Group, which will run the sites alongside its circa 80-strong Brunning & Price business before integrating them into its estate, in a deal valued at circa £50m-£55m. It is thought that the deal enabled Oakman to clear its senior debt of around £40m. Oakman Inns & Restaurants and Upham Inns feature in the Propel Turnover & Profits Blue Book, which is available exclusively to Premium subscribers and features 1,138 companies. Oakman’s turnover of £57.8m for the year ending 2 July 2023 is the 218th highest in the database while Upham Inns’ turnover of £19,266,000 for the year ending 31 March 2024 is the 551stt highest. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier. Email kai.kirkman@propelinfo.com today to sign up.

Market Halls hires Dan Hills as MD and CEO designate as it aims to double estate and grow annual sales to more than £100m: Market Halls has hired Dan Hills as managing director and chief executive designate, as the five-venue food hall group unveils ambitious plans to double its estate and grow annual sales from £45m to more than £100m within the next three years. The appointment signals a new chapter for Market Halls, following the opening of a new flagship London venue in Paddington and acquisition of Shelter Hall in Brighton earlier this year. Andy Lewis-Pratt, founder and chief executive of Market Halls, said: “We’re delighted to welcome Dan Hills to this new role, and I look forward to working closely with him as he steps up to become chief executive. This allows me to shift my focus to scaling the business in a new board role, as we aim to double our footprint and deliver growth. Dan brings more than 25 years of industry experience from Laine Pub Co, where he held multiple director roles, including four years as managing director. His proven track record in steering growth and creating long-term value aligns perfectly with Market Halls’ bold vision.” Hills said: “I’m delighted to have joined this incredible operation. I’ve admired the Market Halls business for many years and am thrilled to have the opportunity to lead it through the next stage of growth.” Esat Kolege, managing partner at Gees Court Partners, which backs Market Halls, said: “Andy and the Market Halls team have created an incredible business that’s redefining the UK hospitality and food hall sector. Our latest opening in Paddington is off to a fantastic start, trading well ahead of expectations, while we’ve successfully integrated our latest acquisition Shelter Hall into the Market Halls portfolio. We’re actively looking to pursue further opportunities like this as we expand across the UK. The appointment of Dan Hills as managing director and chief executive designate marks the first step in this next exciting phase of our growth journey.”