Bury St Edmunds

Greene King has developed into one of the largest independent brewers in the South of England. Established in 1799, Greene King can certainly boast one of the longest traditions in brewing ale. In recent years the brewery has expanded its estate to over 1,700 pubs and supplies more than 2,500 free trade outlets. It's perhaps surprising then that it isn't that easy to find some of their beers on sale in parts of the Midlands. The Greene King brewery stands in Bury St Edmunds in the heart of Suffolk. The town's association with ale dates back nearly one thousand years, when Benedictine monks began brewing with local barley and water from the area's chalk wells. In recent years the company increased their portfolio with the purchase of Morland which brings the Old Speckled Hen and Ruddles beers under their umbrella. Greene King also brew a range of traditionally produced seasonal ales. In May 2002 Greene King announced a £500,000 investment programme to make Abbot Ale the top selling premium ale in the UK. New pump clips accompanied the advertising campaign. Personally, I'm disappointed to see the medieval cleric disappear from the counter handpulls. The company's marketing manager claimed that it was looking old-fashioned and that younger drinkers would be attracted to the new clean fresh colours of the revamped clips. In June 2002 Greene King announced the acquisition of Morrell's of Oxford Limited for a cash consideration of £67 million, including debt of £30.4 million. This purchase brought the 57 managed and 50 tenanted pubs, most of which are freehold and within a 30-mile radius of Oxford, under the Greene King umbrella. Following an investment programme the pubs generated operating profit, before central overheads, of £6 million in the year to 31 March 2002. Commenting on the acquisition, Tim Bridge, the Chief Executive, said "We are very pleased to have made this acquisition, which will benefit all parts of Greene King. The Morrell's pubs will integrate well into our managed and tenanted estates and provide a very good strategic fit for us. Our Brewing and Brands division will also gain through the distribution of our ale brands throughout the estate. We believe we can drive further profit growth from the business to add long-term value for our shareholders".
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