Greene King buys Cloverleaf for £56 million

Published: 31 January, 2011

Pub company Greene King has acquired the 12-strong pub restaurant chain Cloverleaf Restaurants for £56 million.

Pub company Greene King has acquired the 12-strong pub restaurant chain Cloverleaf Restaurants for £56 million.

Greene King plans a £25 million investment in 10 new sites over the next two years under the Cloverleaf banner.
The group hopes the acquisition will help "capitalise on the growing carvery market". A statement from Greene King said: "It [Cloverleaf] is growing strongly both organically, with LFL sales growing ahead of our existing retail business, and through additional sites."

The company said trading in the last eight weeks, over the Christmas period, had "been influenced by the poor weather in December, which negatively impacted trading ahead of Christmas, with January seeing a positive impact due to improved conditions over last year".

For the 38 weeks trading to January 23 the firm's retail like-for-like sales are now +3.9% with Belhaven retail LFL sales at +3.6%. LFL sales at Hungry Horse, its largest retail brand, are +10.3%. The company is continuing to reposition itself towards food, and LFL food sales were +8.2%.

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