British pub operator Greene King is considering divesting approximately 150 of its managed locations, The Mirror reported.
Simultaneously, the company is also weighing the transfer of a further 150 pubs to a tenanted arrangement, after identifying a total of 300 locations it believes “would be better served under different models”.
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The business has not named the pubs that could be affected. However, those earmarked for change are expected to be placed into a dedicated unit while any transition takes place.
The publication added that Greene King has also identified a small proportion of pubs for closure. These account for fewer than 2% of its managed pubs.
The group operates 1,500 managed venues across brands such as Greene King pubs, as well as Chef and Brewer, Farmhouse Inns, Flaming Grill and Hungry Horse.
It also has around 1,000 leased, tenanted and franchise locations.
Reshaping of its pub business is intended to release funds that can be redirected into its core pub portfolio. The British pub operator also plans a £35m ($46.7m) digital programme aimed at enhancing customer loyalty.
Greene King CEO Nick Mackenzie was quoted by The Mirror as saying: “We are confident that our new pub estate strategy will set us up to deliver sustainable, profitable growth for the long-term as consumer habits continue to evolve and the operating environment remains dynamic.
“The realignment of our estate – which leverages our strategically important Pub Partners business – enables us to play to the strengths of our brands, capitalise on our investment in digital and loyalty, invest effectively in our core portfolio and most importantly continue to deliver exceptional experiences for our customers.”
