Sky News is reporting that Brains is set to sell the freeholds of some 100 pubs to Song Capital and Cerberus Capital Management.
Photograph: joncandy, licensed under CC BY-SA 2.0
Pub industry sources expect a deal for the Welsh venues to be agreed in the next few days. Welsh hospitality has suffered more than most businesses, of course, during the covid pandemic.
The transaction, thought to be worth about £100m, will generate substantial proceeds for Brains’ family shareholders, with the funds expected to be used to pay down debt.
Since 2020, Brains has had an agreement with pub company Marston’s to operate 141 pubs under the Brains brand.
