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British brewery and pub chain From Wikipedia, the free encyclopedia
Greene King is a British pub and brewing company founded in 1799, currently based in Bury St Edmunds, Suffolk. The company also owns brands including Hungry Horse and Farmhouse Inns, as well as other pubs, restaurants and hotels. It was listed on the London Stock Exchange (LSE), until it was acquired by CK Assets in October 2019.
| |
| Company type | Subsidiary (Private limited company) |
|---|---|
| LSE Formerly:GNK | |
| Industry | Alcoholic beverage |
| Founded | 1799 |
| Headquarters | Bury St Edmunds, England, UK |
Key people | Nick Mackenzie (CEO) |
| Products | Beer |
| Revenue | £2,176.7 million (2018)[1] |
| £373.1 million (2018)[1] | |
| £162.5 million (2018)[1] | |
| Owner | CK Asset Holdings |
| Subsidiaries | Hungry Horse, Chef & Brewer |
| Website | greeneking |
Its best known beers are Greene King IPA and Abbot Ale, the third and fifth highest selling cask ales in Britain.[2]
The brewery was founded by Benjamin Greene in Bury St. Edmunds in 1799.[3] In Richard Wilson's biographical analysis of the Greene family, he credits various family members for being able to achieve distinction in the worlds of business and banking, literature (Graham Greene, for example) and broadcasting in the nineteenth and twentieth centuries.'[4]
In 1836 Edward Greene took over the business and in 1887 it merged with Frederick William King's brewing business to create Greene King.[5]
Greene King has grown via mergers and acquisitions, including Rayments Brewery (1961),[6] the Magic Pub Company (1996),[7] Hungry Horse (1996),[8] Morland Brewery (1999),[9] Old English Inns (2001),[10] Morrells (2002),[11] a large part of the Laurel Pub Company (2004),[12] Ridley's Brewery (2005),[13] Belhaven Brewery (2005),[14] Hardys and Hansons (2006),[15] the Loch Fyne fish restaurant chain (2007),[16] Cloverleaf (2011),[17] Realpubs (2011),[18] the Capital Pub Company (2011)[19] and the Spirit Pub Company (2015).[20]
The Spirit acquisition, where Greene King bought Spirit for £773.6m, took the total number of Greene King sites to 3,116, brought 14 brands together and made Greene King the largest managed pub company in the UK. It was completed on 23 June 2015.[20]
It was announced in November 2018 that Rooney Anand would be stepping down from his role as CEO after 14 years in the position.[21]
In 2019 the Hong Kong based CK Assets announced the proposed take over of Greene King, which shareholders had to approve.[22][23][24] According to the Financial Times, the holding company took the view that the pubs owned by Greene King are an asset that is safe from potential recession. Analyst David Blennerhassett told the FT that CK Assets has a track record of buying such assets in the UK and he does not expect it to sell Greene King later as a bet on the falling pound.[25] The takeover was approved by the High Court in October 2019.[26]
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The Greene King brewery in Bury St Edmunds produces beers branded in the names of breweries now closed, including Morland (Old Speckled Hen), Ruddles, Hardys & Hanson Kimberley Ale and Tolly Cobbold. The Belhaven Brewery in Dunbar continues to operate in Scotland.[27][28]
The group operates 3,100 pubs, restaurants and hotels:[20]
There is a visitor centre next to the brewery, and tours are run regularly throughout the week. The brewery has an exhibition of pub sign artwork by George Taylor, who designed over 250 such signs for Greene King pubs.[30]
Greene King has been supporting apprenticeships since 2011 through its Greene King Apprenticeship Programme. Since launch, the scheme has processed some 9,000 apprentices.[31][32]
In 2016, Greene King launched the Get into Hospitality Programme in partnership with The Prince's Trust. The aim of the programme is to address the skills and experience gaps that prevent unemployed people from getting into work. Those who successfully complete and graduate from the programme are offered a role onto the Greene King Apprenticeship Programme.[33][34]
In 2017, Greene King launched the Craft Academy, an 18-month brewing venture led by apprentices. Through the programme, apprentices earn while they learn about brewing, design and marketing. Through the scheme, they will gain a Level 3 NVQ Diploma in Sales.[35] The first five beers from the Craft Academy were launched at Craft Beer Rising Festival in London and include; Over Easy (3.8% session IPA), Big Bang IPA (5.6% bold and citrusy IPA), Bitter Sweet (6% black IPA), Desert Ryeder (4.8% rye beer) and High & Dry (5% dry hop lager).[36]
Greene King's ongoing business expansion has sometimes been the subject of criticism. As a result of its active acquisition policy, it has come to be known by beer protesters as "Greedy King".[37] The growing consumer reaction to Greene King buying out smaller breweries was demonstrated towards the end of 2006 when a pub in Lewes, East Sussex started a well-publicised protest against Greene King for removing the locally produced Harvey's Sussex Best Bitter from sale, while continuing to sell other guest beers.[38]
In January 2014, popular Manchester pub The Lass O'Gowrie, voted "Best Pub in Britain" at the Great British Pub Awards in 2012,[39] closed after the landlord was forced out in an argument over rent. Having lost 40% of their trade after the BBC moved to Salford, the landlord had won a rent reduction at an independent tribunal before being forced out by the brewery.[40]
Greene King has also been criticised for removing many traditional and historic pub signs as part of rebranding schemes.[41]
In 2021, residents of Linlithgow launched a petition aimed at preventing Greene King from changing the name of "The Black Bitch" pub to "The Black Hound". The term "black bitches" is traditionally used for natives of the town, and an image of a black bitch (a female dog) appears on the town's coat of arms. Greene King argued that the name "The Black Bitch" had "racist and offensive connotations".[42][43][44][45]
On 27 January 2024, the Caribbean nation of St Kitts and Nevis announced plans to seek slavery reparations from Greene King, due to its founder Benjamin Greene's historical ownership of 231 enslaved people in St Kitts. Talks have been scheduled between St Kitts and Nevis officials and Greene King.[46]
In March 2016, Greene King won Best Managed Pub Company (51+ sites) at the 2016 Publican Awards.[70] Greene King's chief executive, Rooney Anand, also won Business of the Year Award at the Publican Awards 2016.[71] In March 2017, Greene King Pub Partners won Best Tenanted & Leased Pub Company (201+ sites) at the 2017 Publican Awards.[72]
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