Greene King buys New Century Inns

14 November 2007 by
Greene King

Brewer and pub operator Greene King has splashed out £32.6m on the 49 tenanted and leased pubs that comprise New Century Inns.

The purchase increased the East of England company's influence in the North and North-east, where they have been previously augmented by the 2006 purchase of 268 pubs from Hardys and Hansons and the 2004 acquisition of 432 pubs from Laurel.

Greene King said the pubs located in Northumberland, County Durham, Yorkshire and Derbyshire would increase density and create a strong strategic bridgehead for future growth in the region.

New Century Inns will also receive "targeted capital investment" from Greene King who will look to convert tenanted properties to leased.

Alistair Arkley, chairman of New Century Inns, said that the operator had reached a point where "significant acquisitions" were needed to take it up to the next level and he believed its interests were best served by joining a larger organisation.

Rooney Anand, chief executive of Greene King, said: "The licensees at New Century Inns will benefit strongly from having access to a flexible range of agreements, attractive product range and supportive management style."

Hardys & Hansons approves Greene King acquisition terms >>

Greene King to buy Laurel pubs >>

Greene King in £68m Loch Fyne deal >>

By Christopher Walton

E-mail your comments to Christopher Walton here.

The Caterer Blog]( Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking