Admiral Taverns is to acquire 155 pubs from Greene King for £56.5m.

The properties, of which 140 are tenanted and 15 are managed, are mainly located in the south of England.

The deal has also seen Admiral enter a brand supply agreement with Greene King to supply its ales to Admiral’s English estate.

Rooney Anand, chief executive of Greene King, said: “Greene King’s continuous drive to improve the overall quality of our estate has meant that we have long been sellers as well as buyers of pub assets.

“Today’s (20 Nov) deal marks another step in this strategy at a sensible price and we are also pleased with the supply agreement of our ales into the Admiral estate.”

The deal makes the privately owned Admiral the third largest pub landlord in the UK, with an estate of nearly 2,000 properties. Details: www.greeneking.co.uk