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| | Guardian | Greene King snaps up Laurel pubs |
 | | Greene King, which is based in Bury St Edmunds, Suffolk, said the Laurel Neighbourhood managed community pubs would benefit all its business divisions and increase its number of pubs to more than 2,100. |
 | | Greene King is understood to have fended off interest from rival pub groups Wolverhampton & Dudley Breweries and Punch Taverns to clinch the deal, and said it expected the acquisition to produce annual savings of £6m in the first full year of ownership. |
 | | Greene King, which made pre-tax profits of £82.6m in the year to May 2, last week said the first eight weeks of the new financial year had gone well, with profits in all three of its trading divisions - tenanted and managed pubs and the brewery - ahead of last year. |
| www.guardian.co.uk /print/0,3858,4967303-103676,00.html (392 words) |
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