Greene King

Greene King to Expand Managed Pubs Business

Greene King to Expand Managed Pubs Business

On Thursday U.K. pub group Greene King PLC (GNK.LN) said that it has plans to accelerate the growth of its estate of managed pubs. It will cut down its tenanted pub business as it looks to increase further, its exposure to the more profitable eating-out market.

The brewer and pub owner based in Suffolk said, it had decided to accelerate the pace of its change to focus more on retail and key brands.

To achieve its target it has chalked out plans to grow its managed pub business by a quarter to around 1,100 pubs over the next three to five years. It has 888 managed pubs as of now.

Greene King acquires four more pubs from Punch Taverns

Greene King acquires four more pubs from Punch Taverns

Greene King Plc, the owner of Hungry Horse and Eating Inn brands, said today that it has agreed to acquire four more pub restaurants from Punch Taverns Plc for £5.3 million in cash.

Greene King said that this acquisition would strengthen its position in the UK eating out market. These four pubs would bring the total number of pubs to 23 that Punch Taverns had sold to Greene King in past 12 months.