Greene King buys Realpubs as the fine weather brings in more customers

 
City A.M. Reporter
PUBS and brewery group Greene King reported accelerating sales growth and said it had benefited from good weather attracting drinkers into its pubs over the last few weeks.

The group, which brews Greene King IPA and Old Speckled Hen beer, also said it had purchased Realpubs, which operates 14 London pubs, for £53.1m. That takes its total managed pub estate to 926 premises.

The firm reported sales at pubs open more than a year had grown by 8.2 per cent over the 16 weeks to 24 April. For the 51 weeks to 24 April, comparable sales were up 4.7 per cent. Greene King, whose brands include Hungry Horse, Old English Inns and Loch Fyne Restaurants, said the importance of food was continuing to grow at its pubs with comparable sales up 8.2 per cent over the 51 weeks. Food is now expected to account for 40 per cent of this year’s sales.

Chief executive Rooney Anand said: “The addition of Realpubs takes the total number of Greene King sites within the M25 to 217 and positions us strongly ahead of, during and after the Olympics in London in 2012.”