Heineken investment in Star Pubs & Bars hits £44m in 2018
Heineken has today revealed plans to invest £44m into Star Pubs & Bars during 2018, creating about 1,000 new jobs.
The investment is more than double the £20m spent last year and the company's largest annual investment to date. Heineken's total expenditure on pubs has reached almost £140m over the past five years.
A quarter of the Star's 2,900-strong pub estate will be included in the programme, which includes 140 major capex projects with an average spend of £170,000 per site.
Each individual pub development will see its proposition designed around the needs of its local community.
David Forde, UK managing director of Heineken, said: "We are passionate supporters of the Great British Pub and believe that well-invested pubs run by skilled and motivated operators will continue to prosper.
"We believe that our commitment to investment, and understanding of consumer trends, will help our licensees' businesses to keep growing and ensure that the Great British Pub remains at the heart of British life for generations to come."
The Coachman in Wickham, run by brothers Michael & Shaun O'Rourke recently re-opened following a £550,000 investment to modernise the pub.
Michael said: "Although it's mainly used by nearby residents, we've got customers coming from 10 miles away now. We've been told that it's brought the community back together. We've had people coming in and socialising who haven't set foot in the pub or talked to one other for 20 years."
Secretary of State for Business, Greg Clark welcomed the announcement because of the role that pubs play in local economies.
"This record investment by Heineken and their creation of 1,000 new British jobs is another significant vote of confidence in the UK economy," he said.
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