Greene King sells 155 pubs to Admiral Taverns for £56m

From The Publican

Start a new thread20-Nov-2006

Related topics: General News, Company & City News

Greene King has announced a deal to sell 155 pubs to Admiral Taverns for £56.525m.

 

The brewer and pub operator said the historic EBITDA for the 140 tenanted and 15 managed pubs, mainly across the south of England, was £5.3m.

 

Greene King also revealed it had entered into a beer supply agreement for Greene King ales across the entire Admiral English pub estate, which will total 1950 following the deal.

 

Rooney Anand, chief executive of Greene King, said: "Greene King's continuous drive to improve the overall quality of our estate has meant that we have long been sellers as well as buyers of pub assets."

 

He added: "Today's deal marks another step in this strategy at a sensible price and we are also pleased with the supply agreement for our ales into the enlarged Admiral estate."

Find us on Facebook

Spotlight

National Minimum Wage - what you need to know

National Minimum Wage - what you need to know

HMRC is naming and shaming pubs, hotels and restaurants that pay below the national minimum wage. The...

Craft Cider Trends

Craft Cider Trends

As the craft-cider movement follows the craft-beer movement, we begin to see parallels in its development. Here,...

The Big Interview: Mike Benner, SIBA

The Big Interview: Mike Benner, SIBA

In June Mike Benner left the Campaign for Real Ale (CAMRA) after 20 years of campaigning, to...

PMA's Most Mentioned 2014

PMA's Most Mentioned 2014

The Publican's Morning Advertiser has carried out its own research to uncover the 20 pubcos that have...

Follow us on