Pubs and brewery group Greene King has paid out £53.1 million to acquire London pub chain Realpubs.

Pubs and brewery group Greene King has paid out £53.1 million to acquire London pub chain Realpubs.

Realpubs operates 14 London pubs, which brings Greene King’s managed pub estate up to 926.

The deal comes on the back of the group releasing its pre-close trading update for the 51 weeks to 24 April, which revealed that comparable sales were up 4.7 per cent in the period.

Rooney Anand, chief executive of Greene King, says that the company aims to grow its retail business to 1,100 pubs through an acquisition plan.

He adds: ‘We are excited by today’s acquisition as it fits well with our strategy, by further strengthening our London presence and accelerating the development of our premium pub offer.’

According to a statement released by the company, 33 per cent of Realpubs sales are generated through food, with half of all sales driven by customers coming to eat in the pubs.

The purchase brings Greene King’s pub tally within the M25 motorway to 217.

The founders of Realpubs, Malcolm Heap and Nick Pring, will be retained for a minimum of two years as part of the retail management team.

The acquisition is the second for Greene King in 2011 following its £55.8 million deal for Cloverleaf Restaurants in January.