Softbank-owned Fortress Investment Group will acquire Punch Pubs & Co, which operates about 1,300 pubs across the United Kingdom, for an undisclosed amount, the U.S.-based company said on Wednesday.

"Punch's resilient business model and a suburban and rural estate has enabled it to weather the ongoing challenges of the pandemic," Fortress said in a statement.

(Reporting by Muhammed Husain in Bengaluru; Editing by Vinay Dwivedi)