Greene King wins battle for Ridley's

Greene King trumped super-regional rival Wolverhampton & Dudley as well as Shepherd Neame and its regional competitor Charles Wells to pick up fellow East Anglian brewer Ridley's this week.

The £45.6m price was considered full by industry commen- tators, but there are rumours that Charles Wells was prepared to continue talking with Ridley's and was surprised to learn it had lost out. It is believed that Greene King paid the high price to keep its rivals out of the region.

The Morning Advertiser under- stands that Ridley's chairman Nicholas Ridley was torn between keeping the company going and cashing in his chips. The thrice-married Monaco tax exile who controlled 60% of the company with his sister and cousin had been struggling to grow the operation but was hampered by its relatively small size.

His son, Nelion Ridley, is well regarded by Greene King chief executive Rooney Anand and will be offered an appropriate position at Bury St Edmunds.

Former Ridley's managing director Brian Field, who also ran Greene King's brewing division, said: 'It's sad that the Ridleys have felt compelled to sell up, but it's an excellent acquisition for Greene King.

Greene King is to close Ridley's Hartford End brewery in October. Ridley's managing director Bob Wales is to leave the company.

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