Restaurant chain acquired by pub company

Pub giant Greene King has acquired restaurant chain Cloverleaf Restaurants for £56 million.

The pub company said that the acquisition will allow the business to expand, adding another 12 sites to its portfolio.

The purchase will also help Greene King to reposition itself towards retail outlets concentrating on food rather than drink. Greene King said it hoped that the purchase would help it to 'capitalise on the growing carvery market.'

Alongside this latest acquisition, the pub company announced another 10 sites which are expected to open up over the next two years, following a planned £25 investment.

Despite tough conditions within the hospitality sector, Greene King confirmed that 'trade was good' and the bad weather at the end of last year – which led to many people staying at home rather than heading out to pubs – had been tempered by a more positive January.

In a statement, Greene King said, “Despite the challenges posed by the inclement weather across December, trading across the business remains strong, and we are confident that we will continue to deliver profitable growth over the rest of the financial year.”