Greene King Snaps up Another
Sept 16, 2005 - UK brewer Greene King has agreed to pay $337million for Belhaven Brewery, Scotland's largest independent brewer.
Belhaven, founded in 1719, will keep its name, brands and brewery which is located 30 miles north of Edinburgh..
Greene King owns some of the UK's best-known beers such as Abbot Ale. Belhaven's products include 80 Shilling, Best, and St Andrews Ale.
Belhaven's 200 tenanted pubs and 100 managed pubs will now come under the umbrella of Greene King's estate of 2,064 pubs.
"It is a unique opportunity for us to gain immediate scale in the important Scottish market," said Greene King chief executive Rooney Anand.
The purchase comes a month after Greene King completed the purchase of family-owned brewer TD Ridley, which resulted in the closure of its brewery. Since 1996, Greene King has snapped up more than 1,600 pubs in eight separate deals worth more than £1.3bn.
Belhaven chief executive Stuart Ross, said the company had achieved 15 years of unbroken growth and the cash offer reflected the quality of the business.