see all jobs
Greene King looking to complete £187m Belhaven deal
Scottish brewer and pub operator, Belhaven, has accepted a £187m takeover offer from Suffolk-based Greene King.
The deal includes Belhaven’s brewery in East Lothian and the company’s 270-strong pub portfolio, consisting of 101 managed sites and 169 tenanted pubs.
Greene King, which operates 2,100 pubs in the UK, said the company will continue to operate under the Belhaven name and all of its brands, including the Best and St Andrew’s ales, will be retained.
Stuart Ross, chief executive of Belhaven, said: “The offer reflects the quality of our business and our board unanimously recommends that it is in the best interest of our shareholders.”
Greene King will fund the takeover partly through a £47m share issue.
Since 1996, Greene King has completed eight takeovers with an overall value of around £1.3bn and including 1,600 pubs. In July, the company acquired the 73-strong pub estate of Essex-based TD Ridley & Sons for £45.6m.
Rooney Anand, Greene King’s chief executive, said: “This is a unique opportunity for us to gain immediate scale in the Scottish market.
“Belhaven will retain everything at the heart of its success, including its name, its brands and its brewery, but will also benefit from being part of a larger group opening up new markets for its products.” Details: www.greeneking.co.uk
More News
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers