Heineken to splash out £44mn in biggest investment in British pubs
Dutch brewer Heineken NV has unveiled plans for a £44mn ($58.2mn) investment in its UK pub estate.
Heineken bought around 1,9000 British pubs from Punch Taverns for £1.1bn ($1.46bn) last year, making its Star Pubs & Bars business the third largest pub business in the country.
The world’s second-largest brewer said that about 500 of its 2,9000 pubs would benefit from the programme and that around 1,000 jobs would be created.
The programme will include 140 major projects with an average spend of £170,0000, with each project “tailored to ensure the pub’s proposition is relevant” to the locality, according to Heineken.
“We are passionate supporters of the Great British Pub and believe that well-invested pubs run by skilled and motivated operators will continue to prosper said David Fordem, UK managing director of Heineken.
“We believe that our commitment to investment, and understanding of consumer trends, will help our licensees’ businesses to keep growing and ensure that the great British pub remains at the heart of British life for generations to come,” he added.
- Forbes Global 2000: ABInBev becomes worlds most powerful food and beverage company
- Maggie Timoney named Heinken USA CEO, becomes first female boss of a major US beer supplier
- Howard Schultz steps down as Starbucks executive chairman
Heineken’s investment in its Star Pubs & Bars business will be more than twice the £20nm it spent last year, underlining its efforts to strengthen the company’s outreach.
Greg Clarke MP, Secretary of State for Business, described the £44mn ($58.2mn) investment as “another significant vote of confidence in the UK economy.”
“From pop-up breweries to historic watering holes, pubs are at the heart of communities and play a vital role in local economies,” he added.
The funding was also welcomed by Pub is the Hub founder, John Longden OBE, who highlighted the social benefit of the investment.
“Pubs are increasingly being recognised as a force for good and important social hubs for communities, driving local economies and supporting local employment,” he said.
“Many communities are lacking investment so HEINEKEN’s ongoing commitment to revive and refurbish their pubs in order to deliver the services, activities and the jobs communities need, is very good news for everyone.”