FDBusiness.com

Heineken Acquires UK Pub Business For £412 Million

 Breaking News
  • Carlsberg Group Upgrades Full Year Operating Profit Outlook Carlsberg Group has delivered organic operating profit growth of 17.7% for the first half of 2019 with reported growth of 18.2% to DKr 5.17 billion (€693 million). Organic net revenue growth was 4.2% and on a reported basis net revenue rose by 6.5% to DKr32.99 (€4.42 billion). Operating margin improved by 160bp to 15.7%. Reported net [...]...
  • Diageo Forms New Rum Joint Venture Diageo and Corporación Cuba Ron, a leader in the production of premium Cuban rums, have created a joint venture – Ron Santiago. The joint venture will have exclusive global distribution rights to Santiago de Cuba, a premium Cuban heritage rum brand. Globally, premium and above rum segments are growing ahead of the category overall, with premiumisation [...]...
  • Stirring Times For US Yogurt – Innovation is Vital in a Changing Consumer Environment Over half of all U.S. consumers now buy yogurt as part of their typical grocery basket, according to a new report from Innova Market Insights, but their habits appear to be evolving. Convenience themes are becoming increasingly important, for example, with 17% of consumers naming this as a significant choice factor in 2018, which is [...]...
  • FrieslandCampina Significantly Expands its VLOG Production Due to the sharp increase in demand in Germany, FrieslandCampina is increasing the number of participating dairy farms that supply VLOG milk from 400 to more than 600. All VLOG milk produced by Dutch FrieslandCampina dairy farmers is used to make cheese for the German market. VLOG (Verband Lebensmittel Ohne Gentechnik) is a German association responsible [...]...
  • English Food Manufacturers Sign Up to Made Smarter Support A number of food manufacturing firms in the North West of England have signed up to a business-led programme which aims to use digital technology to boost growth and success. By implementing advances in data analytics, Artificial Intelligence (AI), Augmented Reality (AR), Industrial Internet of Things (IIoT), 3D-printing and robotics, firms can enhance their profitability [...]...

Heineken Acquires UK Pub Business For £412 Million

Heineken Acquires UK Pub Business For £412 Million
December 05
12:37 2011

Heineken has acquired the Galaxy Pub Estate in the UK from The Royal Bank of Scotland for £412 million (€480 million) on a cash-and-debt-free basis. A further £10 million has been paid to settle accrued amounts owed under an existing management agreement between RBS and Heineken.

 

Galaxy consists of 918 largely freehold pubs and has been managed by Scottish & Newcastle Pub Company, a Heineken subsidiary, since 1999 on behalf of RBS. Galaxy will be combined with Heineken UK’s existing portfolio of 462 outlets. Following this acquisition, Heineken will become one of the leading pub owners and operators in the UK. Heineken expects the acquisition to be earnings accretive from December 2011 and value enhancing in the first year after completion.

 

Didier Debrosse, regional president Western Europe for Heineken, comments: “The acquisition of Galaxy is consistent with our strategy of driving future value growth in Europe and represents another step in the successful turnaround of our UK business. Our ownership of this estate strengthens our leading position in the UK beer and cider market, particularly in the valuable on-trade channel.”

 

Stefan Orlowski, managing director of Heineken UK, adds: “There continues to be an important role for the great British pub in the UK on-trade, and this acquisition is a significant vote of confidence in the channel. Owning the Galaxy freehold will allow us to continue the successful transformation of our pub business, concentrate on operational excellence and deliver long-term value from a high-quality, well invested pub estate.”

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 11, 2019Packaging Innovations & Luxury Packaging London 2019
  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements