Heineken acquires Galaxy Pub Estate
A £412 million deal has been tied up by Heineken for the Galaxy Pub Estate.
Heineken has shelled out £412 million to buy the Galaxy Pub Estate from the Royal Bank of Scotland.
It means the drinks manufacturer now owns an additional 918 UK-based establishments, on top of the 462 outlets it already manages.
Extensive business negotiations may have been used by the two parties to come to a suitable arrangement.
Didier Debrosse, regional president of western Europe for Heineken - which owns Amstel, Primus, Birra Moretti and Sagres - said: "[The] acquisition of Galaxy is consistent with our strategy of driving future value growth in Europe."
He added it is further evidence that the UK arm of the company is turning around and cements the firm's "leading position in the UK beer and cider market".
Stefan Orlowski, managing director of Heineken UK, noted the British pub still has an important role to play in people's lives and the acquisition of so many hostelries by the organisation is proof of this.
Posted by Ron Maverick
Source: Heineken press release, December 2nd