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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/greene-king-snaps-up-pub-chain.jpg"><img class="alignnone size-full" title="Greene King is aiming for a bigger slice of the carvery market following the takeover of Cloverleaf" src="http://londonglossy.com/wp-content/uploads/2011/01/min-greene-king-snaps-up-pub-chain.jpg" alt="Greene King is aiming for a bigger slice of the carvery market following the takeover of Cloverleaf"/></a></p>
<p>Greene King has revealed a £55.8 million push for a bigger slice of the carvery market following the takeover of pub restaurant group Cloverleaf.</p>
<p>The deal has added another 12 restaurants to Greene King&#8217;s existing estate, which includes the Hungry Horse carvery chain, as well as Loch Fyne sea food restaurants, Scottish business Belhaven and the Old English chain.</p>
<p>Greene King plans to pump in around £25 million to finance 10 new Cloverleaf openings within two years as part of a strategy to focus on food-led sites.</p>
<p>Cloverleaf &#8211; founded in 2004 by former Whitbread executives Gary Douglas and John Winder &#8211; operates across the north and midlands.</p>
<p>Details of the acquisition emerged as Greene King reported back on robust trading despite snow disruption ahead of Christmas.</p>
<p>Like-for-like sales rose 3.9% across its Greene King retail estate, with sales up 10.3% at Hungry Horse carveries and 3.6% ahead at Belhaven over the 38 weeks to January 23. Food sales rose 8.2% in its Greene King retail arm, according to the group.</p>
<p>Greene King&#8217;s tenanted pubs saw like-for-like earnings rise by a more modest 0.6%, but it said all businesses were trading well after a good January.</p>
<p>Greene King also has a brewing business, which makes ales including Greene King IPA cask ale and Old Speckled Hen. Brewing volumes fell 3.3% against a 7.6% drop in the wider market over the 38-week period.</p>
<p>A spokesman for Greene King said the Cloverleaf deal was an &#8220;exciting acquisition&#8221; for the group.</p>
<p>Shares rose 5% after the trading update and acquisition news, with analysts at Numis Securities upping profit forecasts for the current financial year and following two years.</p>
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