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» Beverage Industry News » International » Hong Kong Company to Buy Iconic Greene King

Hong Kong Company to Buy Iconic Greene King

Beverage Industry News» Internationalposted Aug 26th, 2019 12:21:15PM by Tom McCormick

The iconic 220-year-old pub and beer company Greene King is being purchased by a wealthy Hong Kong family. The deal was reported at £2.7 billion.

The deal follows the acquisition of another iconic British brewer when after Fuller’s was sold earlier this year to Japanese drinks giant Asahi for £250 million.

Suffolk-based Greene King said it had agreed to a takeover by CKA Group, whose chairman Victor Li Tzar Kuoi, the son of Li Ka-shing, the 91-year-old Hong Kong multibillionaire.

Sales of Greene King soared in Hong Kong after President Xi Jinping was pictured drinking a pint of the beer with then prime minister David Cameron during a state visit in 2015 according to an article in the Guardian.

Greene King was founded in 1799 by 19-year-old Benjamin Greene.

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Tom McCormick

Posted by Tom McCormick

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