Greene King expands portfolio with 11 Punch pubs

9th June 2009, 9:42am

Greene King has today announced it has acquired 11 freehold, managed pubs from Punch Taverns, worth over £30 million.

The pub company said that the sale will be financed through its recent rights issue, which is estimated for completion on 1st July.

Seven of the pubs are in London and include the Bunch of Grapes in Knightsbridge and St. Margaret's in Twickenham, whilst four are in Scotland including the Burnbrae in Bearsden, near Glasgow.

Commenting on the transaction, Rooney Anand, chief executive of Greene King said: "I am really pleased we have been able to acquire these high quality assets, further strengthening our presence in two key geographies for us. They also match the criteria we set out when announcing our recent rights issue. They will be seamlessly integrated into our Retail operations in both England and Scotland and we look forward to operating these pubs successfully over the coming years."

Related Articles:

• 19 Jan 2011 - Pub operator Greene King searches for young talent
• 12 Oct 2010 - Greene King Pub Partners licensees to benefit from new customer experience surveys
• 11 Jun 2010 - Greene King buys four pub restaurants from Punch Taverns
• 08 Sep 2009 - Food sales give Greene King a boost
• 25 Aug 2009 - Punch blames poor trading on lack of sunshine
• 02 Jul 2009 - Current trading is encouraging for Greene King
• 16 Jun 2009 - Punch Taverns remain 'very cautious'
• 24 Apr 2009 - Greene King raises £200m to acquire struggling pubs
• 03 Apr 2009 - Over 1,130 pubs owned by pubcos have closed
• 23 Feb 2009 - Greene King first UK brewer to win Red Tractor certification
• 05 Feb 2009 - Pubs sign up to healthy eating
• 29 Jan 2009 - Why are M&B and GK are standing strong during the recession?
• 28 Jan 2009 - People are still devoted to their local pub
• 09 Dec 2008 - Greene King wants public housewives

Click here to submit a comment!

Have your say!

To comment on this article, simply enter your name and email and send us your views. Please note that your comment will appear publicly below this article once it has been processed. For enquiries please email info@eatoutmagazine.co.uk.