A cross-firm team from the Bristol head office of TLT has advised on a major acquisition of pubs and bars in London as activity in the leisure, food and drink market continues to accelerate.
The team, made up of corporate, commercial real estate, licensing and tax lawyers, worked with London-based independent pub, bar and restaurant group Urban Pubs & Bars, on the deal in which it bought 13 pubs and bars from Barworks. 
The transaction has increased Urban Pubs & Bars portfolio to 34 venues around the capital. The move follows recent external investment in Urban, which was founded by Nick Pring and Malcolm Heap in 2014.
The pair had previously set up the Realpubs group, which they sold to national group pub chain Greene King in 2011.
The Barworks acquisitions extend its presence in East and North London, including in Shoreditch, Clerkenwell and Camden, adding iconic pubs such as the Exmouth Arms in Exmouth Market, pictured, Singer Tavern in Moorgate and Harrild & Sons in Farringdon.
TLT advised Urban and worked closely with its other advisors, including Sapient Corporate Finance, as part of one deal team while also leading on the negotiation of legal terms.
The team was led by corporate partner Alice Gardner and commercial real estate leisure partner Julian Mant, and included Luke Thorngate-Davies and Jessie Cockhill (corporate), Rachel Channer (real estate), Piers Warne (licensing) and William Ngan (tax).
Nick Pring at Urban Pubs & Bars said: “We’ve known the guys at Barworks for many years and are delighted to be able to acquire so many iconic pubs that complement our existing estate perfectly.
“We trusted TLT with this work because of the firm’s leading pubs, bars and restaurants expertise, as well as their transaction management skills on delivering corporate transactions.
“They gave us sound and clear advice and managed the negotiations and the end-to-end transaction brilliantly.”
Alice Gardner added: “There is strong market activity in the leisure, food and drink sector right now, with buyers wanting to grow their portfolios and strong private equity investment.
“We are delighted to have supported Urban Pubs & Bars with this significant acquisition so soon after their new investment and at a time when the industry is building back stronger after the pandemic.”
The deal leaves Barworks with six pubs around London.
