Punch offloads 200 pubs

Punch Taverns agreed to sell 205 of its pubs today after the UK’s biggest operator reviewed its estate in the wake of a £2.7bn (€4bn) deal.

The sites – bought by the Petchey Group of Companies for £98m (€144m) – are being offloaded as Punch looks to meet competition requirements following the acquisition of 1,800 Spirit bars and restaurants earlier this month.