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UK Pub Chain Announces the Sale of 65 Pubs Not Serving Food
The brewer said buyers could purchase the pubs individually or in groups as it reviews 300 managed sites for possible sale.
- Greene King revealed plans to sell 65 predominantly "wet-led" pubs across the UK as part of an initiative dubbed "Project Portico." Wet-led pubs focus mainly on selling drinks rather than food.
- These sales form part of a broader March shake-up where Greene King identified around 300 managed pubs for operational changes, with approximately 150 evaluated for potential sale over the medium term.
- Sapient Corporate Finance is advising on the portfolio, and prospective purchasers can acquire the entire portfolio, smaller groups of venues, or "just one individual pub." Each site is being reviewed for open sales or targeted off-market approaches.
- No closures have been announced in connection with the move, and Greene King plans to reinvest a "substantial" amount of cash raised from the sale into its remaining core estate.
- Chief Executive Nick Mackenzie said the strategy aims to deliver "sustainable profitable growth" as consumer habits evolve, reflecting a broader industry trend as rival Stonegate considered offloading around 1,000 sites earlier this year.
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11 Articles
Oxford Mail+2 Reposted by 2 other sources
UK pub chain announces the sale of 65 pubs not serving food
One of the UK's biggest pub chains has confirmed it’s putting 65 locations up for sale across the country
·Oxford, United Kingdom
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Coverage Details
Total News Sources11
Leaning Left2Leaning Right1Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 29%
C 57%
14%
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