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.
This well-established independent deli and farm shop has been a local favourite for about 20 years, offering a wide range of groceries including specialist cheeses and fresh produce.
A profitable luxury branded merchandising company in the South West of England, known for its unique products and sustainability focus, is available for sale.
This is a unique opportunity to acquire a well-established garden centre and design business operating in the North-West.
Looking for more businesses? Try our off-market tool.
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