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

Greene King in bid for Belhaven

22 August 2005

Acquisition-hungry pub group Greene King has offered £187m for Scotland's largest managed and tenanted pub company, Belhaven.

Greene King is undertaking a £47m share placing through Deutsche Bank to fund the deal.

Stuart Ross, chief executive of Belhaven, had denied the company was in talks with Greene King when rumours of a deal surfaced earlier this year.

But the Scottish pub company's sparkling full-year performance to June, which saw full-year turnover jump by 20.5% to £114.44m, seems to have been too tempting for Greene King.

Ross said: "Today's cash offer reflects the quality of our business and our board unanimously recommends that it is in the best interest of shareholders."

Greene King purchased regional brewer Ridley's in July for £45.6m and said the integration of the businesses was going well.

Like-for-like sales at Greene King's managed pub company increased by 1.2% in the 12 weeks to 24 July 2005 and by 3.6% at its tenanted division, Pub Partners.

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.

close

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