Heineken (AMS: HEIA) has announced plans to invest £44 million in UK pubs and bars this year.
The world’s second-largest brewer is planning to invest a new total of £140 million in the UK, creating 1,000 new jobs.
“We are passionate supporters of the Great British pub and believe that well-invested pubs run by skilled and motivated operators will continue to prosper,” said David Forde, the managing director of Heineken UK.
“We believe that our commitment to investment, and understanding of consumer trends, will help our licensees’ businesses to keep growing and ensure that the Great British pub remains at the heart of British life for generations to come,” he added.
Heineken will invest an estimated £1,700 into each into of the of hundreds of outlets run by its Star Pubs & Bars division.
The investment comes during a tough environment where the rising national wage and business rates have led pub close at a rate of eighteen per week in the second half of 2017.
The UK’ government’s secretary of state for business, Greg Clark MP said: “From pop-up breweries to historic watering holes, pubs are at the heart of communities and play a vital role in local economies.”
“This record investment by Heineken and their creation of 1,000 new British jobs is another significant vote of confidence in the UK economy.”
Michael & Shaun O’Rourke recently reopened their pub the Coachman in Whickham, Newcastle-upon-Tyne following a £550,000 investment from Heineken.
“The quality of the refurbishment is amazing. We were a bit worried it might be too modern, but people love it and say it’s exactly what the community has been crying out for,” they said.
“We’ve been told that it’s brought the community back together. We’ve had people coming in and socialising who haven’t set foot in the pub or talked to one another for 20 years.