The £2.7bn deal for Hong Kong firm CK Asset (CKA) to take over Greene King’s almost 3,000 pubs portfolio has been approved by the pubco and brewer’s shareholders.
This year has been one of the biggest years for pub trade mergers and acquisitions in recent times, leading many to question what the future has in store for the humble British pub and the pubcos behind them.
Greene King, which is in the throes of a sale to a Hong Kong firm, is urging recent secondary school graduates to consider pursuing an apprenticeship in the hospitality trade.
The recent news of a Hong Kong-based property business planning to buy Greene King in a deal that values the pubco at £4.6bn has been met with fears from the trade.
A Blackpool pub has been given a £350,000 refurbishment by Greene King Pub Partners – and the team behind its revival have a personal connection to the site.
According to latest trading figures, sales at Greene King pubs have been hit by poor weather after a ‘return to market outperformance’ in the year to 28 April.
A Greene King pub in Middlesbrough lost roughly 75% of its weekly takings following a fire at a nearby deserted hotel, which is also believed to have spread asbestos in the immediate area.
Staff at Greene King pubs have raised well over half-a-million pounds for a cancer charity in a month after teams organised swimathons, long distance cycle rides and music festivals.
