Greene King, the brewer of Old Speckled Hen, has added to its retail business with a deal for Capital Pubs.
It has made a recommended cash offer that values the London-based pub operator at around £70m.
"The proposed acquisition represents another firm step as we continue to expand our presence in London,” said Greene King chief executive Rooney Anand.
“Capital is a premium London pub company that fully meets our criteria as we continue to progress our retail expansion strategy.”
Greene King yesterday announced the capture of Sainsbury’s commercial director Mike Coupe as a non-executive director.
Greene King bolsters board with Sainsbury’s heavyweight Coupe (18 July 2011)
Record profits for brewer Greene King (30 June 2011)