Greene King buy seven pubs from Mitchells & Butlers

1st December 2009, 9:49am

Greene King has today announced an agreement to acquire seven pubs in Scotland from Mitchells & Butlers for a total of £12.7m.

The money will be financed from the funds raised by the Company's rights issue and is expected to complete on 8th December 2009.

These pubs meet the criteria stated at the time of the rights issue of being high quality, freehold, managed houses in one of our key target geographies.

The pubs will be managed within Belhaven and this deal represents another important step for Greene King, as it continues to build upon its strong position in Scotland.

Rooney Anand, Chief Executive of Greene King, said: "Scotland is a key area of focus for Greene King and these high quality pubs will fit very well into the Belhaven estate."

Related Articles:

• 09 Aug 2011 - Pub operator Greene King searches for World’s Best Mum
• 19 Jul 2011 - Pub company Greene King appoints non-executive director
• 26 Apr 2011 - Greene King Pubs take part in Royal Wedding celebrations for charity
• 19 Jan 2011 - Pub operator Greene King searches for young talent
• 22 Oct 2010 - Pub operator Greene King introduces 'How to' guides for new licensees
• 12 Oct 2010 - Greene King Pub Partners licensees to benefit from new customer experience surveys
• 09 Jul 2010 - Managing director of Greene King launches Carbon Trust's 'Best Advice' scheme
• 11 Jun 2010 - Greene King buys four pub restaurants from Punch Taverns
• 19 May 2010 - Mitchells & Butlers pub group reports strong trading
• 24 Mar 2010 - Mitchells & Butlers to reposition food-led pub businesses

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