Heineken prepares €350 million British pub purchase

Amsterdam-based brewer Heineken is poised to acquire 300 pubs from Stonegate, the largest pub owner in Britain, in a €350 million deal.

Talks between the two companies took place over the summer. Stonegate aims to sell 1,000 of its 4,500 outlets to help lower £3 billion (€3.5 billion) in debt.

Rising costs and pandemic losses

Much of Stonegate’s debt stems from its acquisition of Enterprise Inns in 2019, shortly before pandemic restrictions closed British pubs for several months.

British venues have also faced financial pressure from rising energy bills, higher wages, employer taxes, and the increasing cost of beer.

Heineken already operates roughly 2,350 pubs across Britain through its Star Pubs Bars subsidiary.

Source: dutchnews.nl