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Greene King acquires four pubs from Punch
By Tom Walker
Pub operator Greene King has bought four pubs from rival Punch Taverns for a combined total of £5.3m.
All four properties are food-led destination pubs and are located in Aberdeen, Northampton and Nottingham.
According to Rooeny Anand, chief executive of Greene king, the four pubs generated pre-tax profits of £342,000 during the year to August 2009. "We are very pleased to have acquired these sites," Anand added.
"They are freehold retail sites in great locations currently trading below their potential. We expect to convert the sites into our market-leading pub restaurant brands, Hungry Horse and Eating Inn, further strengthening our position in the UK eating out market."
Pub operator Greene King has bought four pubs from rival Punch Taverns for a combined total of £5.3m.
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