| Type | Public |
|---|---|
| Traded as | LSE: GNK |
| Industry | Alcoholic beverage |
| Founded | 1799 |
| Headquarters | Bury St Edmunds, Suffolk England |
| Key people | Tim Bridge, (Chairman) Rooney Anand, (CEO) |
| Products | Beer |
| Revenue | £984.1 million (2010)[1] |
| Operating income | £211.3 million (2010)[1] |
| Profit | £79.9 million (2010)[1] |
| Website | www.greeneking.co.uk |
Greene King (LSE: GNK) is a British brewery established in 1799 in Bury St Edmunds, Suffolk. It has grown to become one of the largest British owned breweries in the UK through a series of takeovers which have been the subject of some criticism. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 share index. It currently holds 2% of the UK beer market, although its share has been growing for some time.[2]
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Greene King's Westgate brewery is in Bury St Edmunds, Suffolk. It was established in 1799 by Benjamin Greene,[3] the great-grandfather of the brothers Graham, Hugh and Raymond who have all gone on to become noteworthy in their respective fields of literature, television and mountaineering. There is a visitor centre next to the brewery, and tours are run regularly throughout the week. The company also owns pubs and hotels including the Hungry Horse pub chain. Greene King dominates the pub scene in many parts of East Anglia with a large number of both urban and rural establishments. It also has a stand named after it at Ipswich Town's football ground, Portman Road. The company has won awards for its pubs in recent years, and Greene King IPA won the Gold award at the 2004 Campaign for Real Ale (CAMRA) Great British Beer Festival in the Bitter category and runner-up in the Champion Beer Of Britain category.[4]
As of 16 April 2007, the Managed Pub division operated 510 local pubs and 280 Destination Pubs (i.e. food-led or hotels). This division was restructured in April 2007 with the appointment of Jonathan Lawson as MD for local pubs, and Jonathan Webster for Destination Pubs. A further 1400 pubs are operated on a tenancy or lease basis by the Pub Partners division.
Greene King has grown both organically and via merger and acquisition. Key acquisitions in recent years include Morland (1999) inc, Ruddles, Morrells brewery (2002), Ridley's (2005), Belhaven (2005) & Hardys and Hansons plc (2006). Of these, only the Belhaven Brewery remains open, with the surviving brews of the other three now being produced at Bury St Edmunds.[5]
In August 2007 Greene King announced it had acquired the 35-strong Loch Fyne fish-restaurant chain.[6]
In 2010, Greene King started a new franchise from within called Surf 'n Turf to add to their other divisions of Locals, Hungry Horse, Old English Inns and Pub Partners.[7]
In 2011, Greene King made further acquisitions, buying Cloverleaf, Realpubs [8] and the Capital Pub Company [9].
Greene King's ongoing business expansion has sometimes been the subject of criticism. As a result of its active acquisition policy, it has come to be known by beer protesters as Greedy King[10] (or Greed/Greede King). The British consumer group CAMRA, claim that Greene King is in danger of becoming a monopoly by buying out other breweries and thus potentially limiting choice for the pub consumer.[11] These claims are based on the fact that Greene King proposes the buyout of these breweries while not promising to continue the sale of the current range of ales. Production of key product lines has previously often been switched to Bury St Edmunds while lesser brands cease production. Groups like CAMRA generally oppose such brewery closures and any loss of variety in cask-conditioned, or "real" ales. The growing consumer reaction to this shift was demonstrated towards the end of 2006 when a pub in Lewes, East Sussex started a well-publicised protest against Greene King for removing the locally produced Harveys Sussex Best Bitter from sale, while continuing to sell other guest beers.[12]
Greene King's beers are sold under several brands:
In August 2006, Greene King announced that the abv of draught Old Speckled Hen (cask and keg) would be reduced from 5.2% to 4.5%, though the bottled and canned versions would remain at 5.2%
In 2008, Greene King released a vintage oaked, super premium version of Old Speckled Hen, named Old Crafty Hen (6.5%)[19]
Greene King sponsored Ipswich Town Football Club during the late 1990s and early 2000s, notably at the time of their Division One playoff triumph in 2000 and fifth-place Premier League finish the following year.
On 8 October 2009 Greene King were named home shirt sponsors for Cambridge United F.C. The three year deal also includes the clubs Main Stand being renamed the Greene King IPA Main Stand.[20]
Greene King became the main shirt sponsor for Welsh rugby league team the Crusaders on 28 January 2010.[21]
In June 2011 Greene King became the main shirt sponsor for Mansfield Town Football Club.