Tue, 06 Dec 2011 | BUSINESS SALE
Dutch brewer Heineken has acquired almost 1,000 pubs located across the UK from Royal Bank of Scotland (RBS) in a £422 million deal.
The 918 tenanted pubs within the Galaxy pub group have been managed by Heineken subsidiary Scottish & Newcastle since 1999 on behalf of RBS.
Now, Heineken is set to pay Scottish & Newcastle £10 million in order to wind-up this contract and take full control over the pubs once again.
The state-controlled RBS was keen to offload the pubs as part of its ongoing drive to move away from non-core business interests.
Managing director of Heineken UK, Stefan Orlowski, told the BBC, “There continues to be an important role for the great British pub in the UK on-trade, and this acquisition is a significant vote of confidence in the channel.
“Owning the Galaxy freehold will allow us to continue the successful transformation of our pub business, concentrate on operational excellence and deliver long-term value from a high-quality, well invested pub estate,” added Mr Orlowski.
The brewer has confirmed that existing Scottish & Newcastle pub tenants will continue to operate their businesses 'as usual' following the acquisition.
In a prime location, this freehold business opportunity includes a detached, well-equipped bakery factory along with a retail outlet and cafe, all part of a family business with a century of trading history.
Established in key industries like power generation and rail, this company offers specialised electrical and engineering services across the UK and Ireland, boasting strong relationships with blue-chip clients and a reliable income stream.
This well-established company has a decade-long track record in a growing market and is fully relocatable or can be operated remotely, providing flexibility for the new owner.
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