Once the agreement has been completed, Punch will refurbish and convert each pub, supported by its proven onboarding and operating model, to position each pub for future success.
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The portfolio includes 20 trading pubs and four closed sites, located across England and Scotland.
Greene King said team members at the trading pubs would now enter into a full consultation.
Exciting opportunity
Punch described the procurement as a “significant long-term investment”.
CEO Andy Spencer added: “This is an exciting opportunity for our business and represents another important step in our acquisition strategy.
“We know former managed pubs make fantastic additions to our estate, and this portfolio is a collection of brilliant pubs in excellent locations across the country.
“We have a strong track record of investing in pubs, empowering talented partners and building social connections at the heart of communities. We look forward to welcoming these pubs and their teams to Punch.”
The 24 pubs included in the deal are:
- Glovers Needle - Worcester
- Strawberry - Barrow-in-Furness
- Victoria - Barrow-in-Furness
- Rowing Machine - Witney
- Crown - Bradford
- National Hunt - Cheltenham
- Malt Shovel - Baildon
- Old Brewery - Alloa
- Bull - Braintree
- Duke of Cambridge - Cambridge
- Pied Calf - Spalding
- Quo Vadis - Glasgow
- Counting House - Blackpool
- Craig Dhu - Paisley
- Greenhills - East Kilbride
- Emporium - Fleet
- Rose & Crown - Rushden
- Outlook - Reading
- Old Blackfriars - Aberdeen
- Millcroft - Rutherglen
- Royal Oak - Bulwell
- Druids Arms - Maidstone
- Stumps - Glasgow
- Sir John Warren - Ilkeston
Strong year
The acquisitions follow a strong year of growth for Burton-upon-Trent-based pubco, having invested £68.2m of capital expenditure, of which £56m was spent investing in the core pub estate and £12.2m on recently acquired pubs.
Earlier this week, Punch also announced it had acquired the Slug & Lettuce in Bromsgrove.
At the same time, it shared that the Meynell Ingram Arms pub in Hoar Cross, East Staffordshire, had reopened following an investment of half-a-million pounds.
Meanwhile, Greene King recently injected £250,000 into fully renovating the Sportsman pub in Reading.
This comes after CEO Nick Mackenzie announced he would be stepping down after years in the role as of February 2027, with Clair Peterson-Beer named as his successor.
