SA BRAINs is close to completing a £100m deal which will see the sale of 100 Wales pubs, including Pembrokeshire locals, it has been reported.
It is reported that Wales most prominent brewers will sell the freeholds to 100 of it’s pubs to a consortium.
Brains currently has a portfolio of 200 pubs across Wales and the South West.
Sources within the pub industry said that the transaction could be signed in the next few days.
The deal is to be made with Song Capital and Cerberus Capital Management, the former owner of Admiral Taverns.
The deal, which is thought to be around the £100m mark, is expected to be used by the Brains’ family shareholders to pay down debt.
The hospitality sector has been hit severely by the Coronavirus pandemic, being forced to close for long periods at a time and then reopening with strict restrictions.
In 2020, Brains struck a deal with Marston’s to operate 141 of its pubs, under the Welsh brewers brand, following financial pressures of the Covid-19 pandemic.
Six Pembrokeshire pubs are earmarked to be included in the transaction; The Ferry Inn, St Dogmaels, Crown Inn, Tenby, Grove Hotel, Narberth, Waterman’s Arms, Pembroke, Harbour Inn, Solva and The Galleon, Broad Haven.
The sale will see the Brains pub estate as a family-owned brewer with a small residual pub portfolio.
