Heineken has announced the acquisition of 13 pubs from Greene King, to add to its UK Star Pubs & Bars business. Greene King was required to sell pubs by the CMA to meet regulatory concerns following its Spirit Pub Company purchase.
David Forde (pictured), Heineken's UK Managing Director, commented, “We recently announced an investment of £30 million our Star Pubs & Bars leased & tenanted estate by the end of 2015; and now I'm pleased that we can add to our 1,050 pub estate with these 13 new pubs.
'This acquisition, and our record investment, is a demonstration of our long term commitment to the great British pub, and to growing successful businesses for our lessees.
'These pubs are all in excellent locations and have significant development potential within the existing Star Pubs & Bars & business.'
Once completed, Star Pubs & Bars will work closely to support the operators of the new pubs, to ensure a smooth transition into the existing estate.
The acquisition was a straight purchase for an undisclosed sum and it is anticipated that the deal will be legally completed by the end of September 2015.