Through Heineken UK, the pub group has completed the acquisition of Punch Securitisation A – comprising around 1,900 pubs across the UK – as part of a back-to-back deal with Vine Acquisitions, a company formed at the direction of Patron Capital.

Heineken UK will integrate these pubs into the existing Star Pubs & Bars estate to create the UK’s third-largest pub business.

"Investing to grow our UK pub portfolio through this acquisition will enable us to unlock further value in the UK pub market,” said Stefan Orlowski, regional president for Europe at Heineken.

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“The performance of our Star Pubs & Bars business clearly shows that well invested pubs – in the hands of skilled and ambitious independent operators – can outperform and we will seek to replicate that success with these new pubs in partnership with their licensees."

Heineken will work with incoming licensees to help them to realise the increased potential from the pubs that they operate.

The pubs acquired by Heineken UK will be operated for six months by Punch under a transitional services agreement, after which they will be integrated into Star Pubs & Bars.

The transitional services agreement will have no impact on Star’s existing licensees who will continue to trade on a ‘business as usual’ basis.

“This is good news for pub-goers across the UK, who will see the benefit of well-invested pubs in their communities,” said David Forde, UK managing director for Heineken.

“We welcome the new licensees to Star Pubs & Bars, and look forward to working with them to grow their businesses and create successful pubs in the heart of communities across the UK."