Greene King yesterday announced it had completed the £271m acquisition of Hardys & Hansons, the Nottinghamshire-based brewer and pub operator. The announcement came a day after shares in Hardys were suspends, and three weeks after the deal was approved by over 95% of the company’s shareholders. The deal, which was passed by the OFT in July, had been described as “fair and reasonable” by the directors of Hardys, who had unanimously recommended the offer to the company’s shareholders. Hardys has 268 pubs, 83 managed and 185 tenanted, with the majority freehold, located mostly in the East Midlands. The group's beer brands include Olde Trip, Hardys and Hansons Bitter, Dark, Cool and Mild. The offer represents a premium of approximately 44.5% to the closing price on 9 June and a multiple of approximately 10.0 times 2005 Ebitda pre-central overheads. Rooney Anand, the chief executive of Greene King, said: “Geographically it is a hand in glove fit concentrated right next to, but not in, our heartland. Economically, it is an excellent deal for both parties, with the certainty that we can both add value to each other's operations. “Culturally and historically it is the ideal match of two companies with proud histories and solid values.” Greene King said that the acquisition would continue its strategy of “focused acquisitions complementing strong organic growth”. Jonathan Webster, managing director of Hardys, said: “Greene King has a reputation for nurturing the pubs, tenants and employees they have acquired in the past and we have confidence that they will have the same approach with our business.” Greene King expects to see synergies of £3m in the first full year following the deal, rising to £5m.