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.