Heineken buys UK Pub Estate

2011-12-02 11:18

Amsterdam – Dutch brewer Heineken says it has purchased Galaxy Pub Estate, owner of 918 pubs in Britain, from Royal Bank of Scotland for £412 million (R5.2 billion) in cash.

The pubs that Galaxy owns are already managed by Heineken’s subsidiary, Scottish & Newcastle. Heineken says it plans to combine the Galaxy properties with 462 other bars it owns in Britain, making it one of the country’s largest pub owner and operators.

Heineken said the properties purchased had an operating profit before depreciation and amortization of £52.3 million over the past 12 months.

Heineken will take a charge of £28 million in the fourth quarter for terminating leases and other costs associated with the acquisition.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.