UK: Scottish & Newcastle acquired 38 pubs from Pubfolio for an undisclosed price

A portfolio of 38 pubs operated by County Estate Management and owned by Pubfolio has been sold to Scottish & Newcastle Pub Enterprises (S&NPE) for an undisclosed price, The Morning Advertiser posted October 25.

The deal is expected to be completed in the second week of November.

The pubs are mainly located in the Midlands and South West of England.

Clive Rayden, director of County Estate Management and Pubfolio said: "I am confident these pubs will have an excellent future under S&N Pub Enterprises and we wish all parties involved the best for the future."

County Estate Management (Pubs) Ltd. has responsibility for the business development and administration of approximately 1200 public house tenancies and leases throughout England.

Scottish & Newcastle is one of Europe’s leading brewers and in the top 10 by sales volume in the world. It is a public company and part of the FTSE 100. Scottish & Newcastle is listed on the London Stock Exchange. Its headquarters are in Edinburgh, UK. Scottish & Newcastle is an international brewer with strong positions in 14 countries in Europe and Asia and exports to more than 60 countries around the world.

25 October, 2006