Heineken’s pubs division is close to concluding a £300 million deal to hugely expand its property portfolio, according to City sources.
The Dutch brewing giant is in talks to acquire 300 properties from Stonegate, Britain’s biggest pub company.
Heineken UK operates about 2,350 pubs across Britain under its Star Pubs & Bars, and adding 300 pubs would increase the distribution of its drinks in the hospitality sector.
Stonegate, which is run by David McDowall, the former chief commercial officer of BrewDog, has been overhauling its business, turning some of its managed pubs – those it owns and operates fully – into traditional leased and tenanted pubs.
People familiar with the talks told The Sunday Times that there was no guarantee of a deal taking place. A number of other bidders are said still to be circling, with some potentially interested in buying the entire 1,000 estate.
Although Heineken UK is based in Edinburgh, all its brands, such as its eponymous lager, Birra Moretti, Amstel and Cruzcampo, are brewed outside Scotland. Deuchars, which was produced at the now defunct Caledonian Brewery, is brewed and distributed under a licence held by Greene King in Dunbar.
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