GREENE King has agreed to sell 275 pubs, which are thought to include 60 in Scotland.
The group said it is selling the non-core pubs to private equity-backed Hawthorn Leisure for £75.6m. It said the book value of the pubs was £93.8m. However, Greene King added it had agree a three-year beer supply deal with Hawthorn Leisure, securing continued nationwide distribution for its ale brand portfolio. This includes Belhaven Best and Old Speckled Hen. Greene King operated around 2,200 pubs, restaurants and hotels across Britain before the deal, including 300 in Scotland.
Loading article content