Heineken explores buying 300 pubs from Stonegate

Heineken is in talks to acquire 300 pubs from UK operator Stonegate, according to a report published by The Sunday Times on 20 September 2026. A spokesperson for Heineken declined to comment on the report when approached by Just Drinks.

Heineken already owns the Star Pubs business in the UK, operating around 2,350 pubs that are mostly leased to independent operators. Stonegate is evaluating options for its Platinum portfolio of outlets, which could include a refinancing, a partial sale, or a full sale of the sites.

A Stonegate spokesperson stated that no decisions have been made, noting that first-half profits rose 9% to a record 201 million pounds. Greg Johnson, travel and leisure equity research analyst at Shore Capital, said on 21 September 2026 that Stonegate expects to complete over 100 million pounds in group-wide disposals this year.

For the 52 weeks ended 28 September 2025, Stonegate reported 4,259 operating sites, down from 4,370 a year earlier. Its full-year revenue fell 7.4% to 1.62 billion pounds, adjusted EBITDA fell 5.6% to 372 million pounds, and operating profit declined 14.9% to 212 million pounds, alongside non-current borrowings of 3.81 billion pounds.