Greene King sells more than 100 pubs
SUFFOLK pub company Greene King has sold 155 pubs in a deal worth £56million.Admiral Taverns has bought the package and Greene King, has also struck an agreement to supply its beers to all Admiral pubs.
SUFFOLK pub company Greene King has sold 155 pubs in a deal worth £56million.
Admiral Taverns has bought the package and Greene King, has also struck an agreement to supply its beers to all Admiral pubs.
The company said the disposal was part of a "continuous drive" to improve the quality of its estate.
Admiral, which was founded in March 2004 with the intention of building a leased and tenanted business, is jointly owned by the Landesberg and Rosenberg families.
Greene King has more than 2,000 sites after deals in recent months involving Nottinghamshire-based Hardys & Hansons, Essex brewer Ridley's and Belhaven in Scotland. The 200-year-old brewer is best known for Abbot Ale and Old Speckled Hen.
Chief executive Rooney Anand said: "Greene's King drive to improve the quality of our estate has meant that we have long been sellers as well as buyers of pub assets.
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"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."