Ex-Greene King boss raises £200m to invest in struggling pub companies
The former boss of Greene King Rooney Anand has secured £200m in investment to pump into the UK’s struggling pubs sector.
Anand, who stepped down as chief executive of Greene King in 2019 after 15 years with the chain, is planning to make a number of acquisitions in the coming months, Sky News reported.
The acquisition spree has been backed by a US private equity firm, the broadcaster said, citing City sources.
Anand’s investment vehicle Redcat Pub Company will focus on smaller acquisitions rather than large corporate deals.
The UK pub sector has been one of the hardest hit by the pandemic and coronavirus restrictions, having been forced to close several times and faced strict social distancing rules.
However industry experts believe that there could be a resurgence in the pub industry when Covid restrictions are lifted, with many hospitality firms eyeing up opportunities to snap up other businesses at a lower price.
Anand is also a non-executive director at supermarket giant Morrisons and was chairman of the Casual Dining Company before it collapsed into administration under the pressure of the pandemic last year.