Exclusive – Greene King introduces new pub estate strategy, 300 sites placed in new business unit, Zoe Bowley to step down: Brewer and retailer Greene King is introducing a new estate strategy across its circa 2,500-strong pub business, including the realignment of its managed estate, which will see 300 pubs placed into a new focused business unit, Propel has learned. Greene King said it had evaluated its brand portfolio across its entire estate, identifying the most suitable sites for each brand and building “an efficient system to focus investment, maximise profitability and support each site’s growth”. The company said this is to ensure it is best set up to execute its 2030 strategy of delivering “outstanding customer experiences, growing market share, improving margins and positioning the business for success in an increasingly dynamic operating environment”. As part of this, the company has identified circa 300 managed sites that would be better served under different models. It is expected that roughly half of these pubs will be converted to leased and tenanted, or franchise venues within its Pub Partners estate, with the other half evaluated for a potential sale over the medium-term. These sites will be transferred to a new focused business unit while they transition. At the same time, Greene King has identified a small number of sites for closure, around 20 pubs, representing fewer than 2% of the managed estate, which it said is in line with the group’s typical annual activity. Greene King said the optimisation of the managed estate will enable “greater and more focused investment into the core portfolio”, with a substantial amount of the funds raised from disposals reinvested into the core estate. In the meantime, it said that the separate transitional business unit will allow the company to run the sites on a “simplified model, with a renewed focus on maximising financial returns”. On the back of this realignment of its managed estate, the business is to adopt a centralised operations structure, led by Jodie Tate, alongside an integrated commercial and digital structure, led by Clair Preston Beer. Greene King said that this will enable the business to “power behind its brands” and capitalise on its investment in technology, including an estimated £35m this year to drive customer loyalty. Nick Mackenzie, chief executive of Greene King, said: “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.” At the same time, Propel has learned that Zoe Bowley, former managing director of PizzaExpress, is to step down as managing director of Greene King Pubs. Bowley, who spent more than 12 years at PizzaExpress, including as its managing director for five and a half years, initially joined Greene King in an interim role in October 2023 to help develop its Metropolitan Pub Company division and lead its Crafted Pubs business. In September 2024, she became a permanent managing director of Greene King Pubs and also took responsibility for Pub Partners. Bowley will remain with the company in an advisory capacity. Mackenzie told Propel: “I would like to thank Zoe for her leadership, counsel and the important role she has played in strengthening both our Greene King pubs over the past few years, and before that, our Metropolitan Pub Company business. Zoe has decided that now is the right time for her to step down, but she will continue to support the business through a period of transition. Zoe will always be part of the Greene King family, and I wish her every success in the future.” Greene King features in the Premium Club Turnover & Profits Blue Book, which features 1,244 companies. Greene King’s turnover of £2.45bn for the year to 29 December 2024 is the fourth highest in the database. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £995 plus VAT – whether they are an operator or a supplier. The single subscription rate is £495 plus VAT for operators and £595 plus VAT for suppliers. Email kai.kirkman@propelinfo.com to upgrade your subscription.