Heineken to create around 1,000 jobs with £40m pub investment
The Dutch brewing giant said it will provide a £40 million cash injection into its Star Pubs operation.
It said more than 600 of its 2,400 UK venues will receive investment funds to make improvements over the next year.
Bosses said the move is a 'resounding vote of confidence' in the sector despite recent cost increases and pressure on consumer finances.
Heineken sees firsthand the value in great British pubs and their ongoing popularity Lawson Mountstevens, managing director, Star Pubs
Works have already started or been completed to reopen 10 pubs so far this year, with further sites that are currently closed earmarked for investment to welcome customers again.
The company reopened 62 of its long-term closed pubs last year, leaving the business with its lowest level of closed venues since 2019, before the coronavirus pandemic hit.
Lawson Mountstevens, Star Pubs' managing director, said: 'Consistent investment – rather than a stop, start approach – and a strategy of creating great locals have been key to helping our pubs weather the storms of the last few years.
'Heineken sees firsthand the value in great British pubs and their ongoing popularity.
'It recognises that Brits love their locals and that well-invested pubs trade better.
'This £40 million inward investment from a Dutch business into UK pubs is a resounding vote of confidence in the future of the sector.
'Even with pressures on disposable income, people are still prioritising a trip to their local, valuing it as an everyday treat and as a way of connecting with their community.'
The boss stressed that local pubs are 'growth engines' in the economy but said they have been impacted by a 'disproportionate tax burden'.
Mr Mountstevens called for this to be reduced when the Government draws up fresh plans to overhaul the business rates regime of property tax later this year.
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