Greene King buys New Century Inns

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

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