Young & Co.�s Brewery, P.L.C. (Young�s) is a United Kingdom-based company. The Company is focused on developing and growing an estate of pubs, primarily in London and the South East. The Company operates in two segments: managed houses and tenanted houses. Managed houses include Young�s managed houses, and Geronimo managed houses. Both Young�s and Geronimo managed houses operate pubs. Revenue is derived from sales of drink, food and, also for Young�s managed houses, accommodation. Tenanted houses consists of pubs owned or leased by the Company and leased or sub leased to third parties. Revenue is derived from rents payable by, and sales of drink made to, tenants. As of April 2, 2012, the managed operation consisted of 121 Young�s pubs, 16 of which were hotels, and 33 Geronimo pub. In August 2011, the Company sold its 40% shareholding in Wells & Young's Brewing Company Limited to Charles Wells Ltd.