Greene King sells 155 pubs
Bury St. Edmunds brewer and pub operator, Greene King, announced the sale of 155 of its pubs for £56.5m. The buyer, Admiral Taverns Holdings, has also entered into an "attractive" beer supply agreement with Greene King for the growing Admiral pub estate. The sale comprises 140 tenanted and 15 managed pubs, 138 of them being freehold or long leasehold, mostly located in the South of England.
Chief executive of Greene King, Rooney Anand, said: "Greene King's continuous drive to improve the overall quality of our estate has meant that we have long been sellers as well as buyers of pub assets. Today's
deal marks another step in this strategy at a sensible price and we are also pleased with the supply agreement for our ales into the enlarged Admiral estate."