Scottish & Newcastle has sold its estate of 1,400 pubs, restaurants and lodges for £2.51bn to pub group Spirit.

The deal will enable S&N to reduce debt and concentrate on its brewing business with brands such as Foster’s, Kronenbourg and the recently acquired H P Bulmer cider business.

As part of the deal S&N has signed a seven-year agreement to supply Spirit with its beer and cider brands.

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