Punch Pubs & Co has agreed a deal to acquire 24 pubs from Greene King.
The high-quality pubs, located across England and Scotland, represent a significant long-term investment and reinforce Punch’s commitment to great pubs and thriving communities across the UK.
Following phased completion of the 24 pubs, Punch will undertake a comprehensive refurbishment and conversion programme, supported by its proven onboarding and operating model, to position each pub for future success.
The acquisition will add to Punch’s fast-growing estate and supports the business’ strategy of creating exceptional pub experiences through investment, operational expertise and strong local leadership.
Andy Spencer, Chief Executive Officer of Punch Pubs, said: “This is an exciting opportunity for our business and represents another important step in our acquisition strategy. We know that former managed pubs make fantastic additions to our estate, and this portfolio is a collection of brilliant pubs in excellent locations across the country.
“We have a strong track record of investing in pubs, empowering talented partners and building social connections at the heart of communities. We look forward to welcoming these pubs and their teams to Punch.”
The 24 pubs included in the deal are the Glovers Needle (Worcester), Strawberry (Barrow-in-Furness), Victoria (Barrow-in-Furness), Rowing Machine (Witney), Crown (Bradford), National Hunt (Cheltenham), Malt Shovel (Baildon), Old Brewery (Alloa), Bull (Braintree), Duke of Cambridge (Cambridge), Pied Calf (Spalding), Quo Vadis (Glasgow), Counting House (Blackpool), Craig Dhu (Paisley), Greenhills (East Kilbride), Emporium (Fleet), Rose & Crown (Rushden), Outlook (Reading), Old Blackfriars (Aberdeen), Millcroft (Rutherglen), Royal Oak (Bulwell), Druids Arms (Maidstone), Stumps (Glasgow), Sir John Warren (Ilkeston).
The acquisitions follow a strong year of growth for Punch, having invested £68.2m of capital expenditure, of which £56m was spent investing in the core pub estate and £12.2m on recently acquired pubs.