'It's a very sad day' - Beer drinkers' shock at Greene King sale
PUBLISHED: 11:49 20 August 2019 | UPDATED: 11:49 20 August 2019
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Beer drinkers' lobby group CAMRA has described Greene King's impending sale to a Chinese multinational property firm as 'very concerning'.
Shareholders are set to consider a £2.7bn offer from Hong Kong-based CK Asset Holdings to buy the Bury St Edmunds-based pubs and brewing giant in the autumn, after the Greene King board gave it the unanimous thumbs-up.
The shareholder vote would open the way for the sale to go ahead.
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But the Campaign for Real Ale (CAMRA) has expressed fears about the deal, particularly in relation for one large player owning a large slice of the market.
MORE - Greene King to be sold to Hong Kong property giant
National chairman Nik Antona said: "The news that Britain's largest pub and brewery company has been sold to an international asset company is very concerning for our beer scene.
"We are always wary of one company controlling a large share of the market, which is seldom beneficial for consumers. Greene King has been in operation for over 200 years and it is a very sad day to see such a well-known, historic and respected name exit the brewing and pub business.
"We hope that Greene King will continue its operations as normal without any disappointing changes. We will be calling on the new owners to retain the current pub portfolio to safeguard thousands of pubs and jobs across the country."