The future may be right for Revolution

Revolution bar on Mill Street may be facing a brighter future – following its closure, without warning, earlier this year.

Owners, Revolution Bars Group, have received a £101.5m conditional purchase proposal from Stonegate Pub Company, owners of Slug and Lettuce and Yates’s brands.

The offer price of 203 pence a share in cash represents a premium of around 62.40%.

Stonegate is the fourth largest managed pub company in the UK, with around 690 sites.

Revolution has been experiencing a difficult few months – suffering a sharp drop in its share price in May after it said it was facing “well published sector cost headwinds” – and profits have been hit by the Living Wage, new apprenticeship levy and above-inflation increases in business rates.