Britain’s second-biggest pub chain confirms it’s putting 65 locations up for SALE in huge shake-up

BRITAIN’s second-biggest pub chain has confirmed it’s putting 65 locations up for sale across the country. The brewery chain currently operates over 2,500 pubs, with the new portfolio change coming as part of its pub estate strategy. Major pub chain Greene King is putting 65 pubs up for sale in a huge shake-up Credit: Getty The pub chain has an estate spanning over 2,500 locations across the country Credit: Jam Press/Greene King Greene King said the chosen pubs could be purchased individually or as part of a larger group as it changes its portfolio. A spokesperson said: “As part of our pub estate strategy announced earlier this year, we identified a number of pubs for potential sale in the medium term. Sign up for the Money newsletter Thank you! “As a result, we are reviewing each pub to determine the most appropriate route to market, which may involve an open sales process or a targeted off-market approach. “In either case, prospective purchasers may seek to acquire individual or multiple sites.” Founded in 1799, Greene King operates around 2,500 pubs, as well as 1,000 leased, tenanted and franchised venues. The package of pubs, known as Project Portico, is said to include mainly “wet-led” pubs across the UK, meaning those that focus on selling drinks, not food. Potential buyers have reportedly been told they can buy the entire portfolio themselves, a smaller group, or just one individual pub. The operator is yet to confirm which pubs are set to be included in the package, and no closures have been announced in connection with the move. Most read in Money Greene King’s decision to sell-up is part of a wider estate change announced by the pub in March. Around 300 pubs were identified as being better suited to different operating models, with around half expected to become leased, tenanted or franchised venues. The company has confirmed that any cash raised through the sale of its 65 chosen pubs will be reinvested into the core estate. Comment now