Greene King agrees deal to buy Hardys & Hansons
15 June, 2006
Bid speculation ends with confirmed offer
Greene King has agreed to buy Nottingham-based brewer Hardys & Hansons for £270m.
Announcing the agreed takeover today, Rooney Anand, chief executive of Greene King said: “We believe this is a fair offer for Hardys & Hansons, a company we have long admired for its high quality estate, strong management team, dedicated staff and heritage.”
The offer was consistent with Greene King’s strategy to deliver shareholder value by “augmenting our organic growth with selective acquisitions that improve the overall quality of the group”, he added.
James Muir, chairman of Hardys & Hansons, said the offer “represents excellent value for our shareholders and Greene King represents an excellent home for the business.”
The future of Hardys & Hansons has been the subject of debate for some months and earlier this week the group was forced to announce to the Stock Exchange it had received a number of approaches.