Purchase of RBS Pubs is Great News for S&NPC and its Lessees
12/06/2011
Scottish & Newcastle Pub Company became one of the UK’s leading pub owners and operators on 2nd December when it purchased 918 pubs from the Royal Bank of Scotland. S&NPC now has a wholly owned estate of 1,400 of the country’s top performing leased pubs.
Having previously managed the pubs on RBS’ behalf for 12 years, S&NPC was fully aware of their outstanding potential and quality when it made the decision to buy them. The purchase is a massive vote of confidence by S&NPC in both the long-term sustainability of the pubs and in the future of the great British pub itself.
"This is a great day for S&NPC and our lessees," says Chris Moore, S&NPC’s trading director. "It provides us all with certainty for the long term. Lessees can be reassured that their pubs are owned by a company that values pubs first and foremost as pubs and not as property investments, is passionate about excellence in the UK on trade and is committed to maintaining the pub as Britain’s favourite place to enjoy beer and cider."
Having Heineken as a parent company also brings massive benefits to the S&NPC’s lessees. As Europe’s biggest brewer, Heineken’s knowledge of the beer and cider market and their understanding of the consumer and trends for the future is second to none. Says Moore, "Combining this knowledge with S&NPC’s expertise in operating and developing pubs and the skills and enthusiasm of our lessees is, I believe, a recipe for even greater success in the future."
Adds Moore, "We want all our pubs to be market leading and are committed to working with our lessees to create outstanding pubs - long-term sustainable businesses with multiple income streams capable of generating healthy profits. Our direct ownership of the former RBS sites can only further this ambition."