Greene King recently reported a 6.9% fall in its share price, and analysts have suggested that a change in the pubs, bars and restaurants market may be to blame.

Recent industry results suggest that companies focussing on drinks sales have outperformed those who have invested more heavily in the restaurant side of their business.

Greene King has responded by announcing a joint venture agreement with Scottish company, Kained Holdings. The new arrangement is expected to lead to a six figure investment in the Droughty Neebors pub in St Andrews, a 60-cover restaurant and the opening of a new gin distillery.

It remains to be seen whether Greene King will shift focus away from the restaurant sector and back to drinks sales. Their latest venture would suggest they are currently hedging their bets.