The private equity executives who built their reputation a decade ago from making an 11-times return on Punch Taverns in just one year have returned to the pub sector.

Buyout firm TDR Capital, founded by Manjit Dale and Stephen Robertson, has bought a portfolio of 333 pubs from Mitchells & Butlers for £373m, according to a statement this morning.

Buyout duo seek second round of pub glory

Two private equity executives, who built their reputation from making a 11-times return on Punch Taverns, has bought a £373m pub portfolio

Jennifer Bollen

Punch Taverns

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