Welsh brewer SA Brain has sold 95 of its pubs to investment firm Song Capital and partners, former owners of Admiral Taverns.
The company originally put 99 of its pubs in the market in 2021, in order it said “to provide a foundation for growth for the future of the Brains brand”, with the freehold and leasehold investment being marketed for offers in the region of £90 million.
Brains said the proceeds of the deal would be used to pay down its bank debt and provide a foundation for its brewing arm.
Jon Bridge, chief executive of SA Brain, said:
“The executive team at Brains and the Song Capital team have worked diligently together for a period of time to ensure a jointly successful outcome. I would like to thank everyone involved for their dedication and hard work.
“The proceeds of this deal will go towards paying down our remaining bank debt and significantly deleveraging the Brains business. This provides a foundation for our modern state of the art facility, Dragon Brewery, to brew our famous beers in the heart of Cardiff and continue to supply Brains beers to our loyal and new customers for generations to come.”