One of Wales' leading brewers SA Brain is set to sell another 100 of its pubs in a huge £100m deal, according to reports.
The iconic Welsh brewing company is close to agreeing a deal to offload 100 of its pubs to a consortium including Song Capital and Cerberus Capital Management which formerly owned Admiral Taverns, according to Sky News.
The broadcaster is also reporting that the proceeds from the deal is expected to be used by the Brains' family shareholders to pay down debt.
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The agreement - the latest in a number of significant recent deals in the brewing sector - will leave the company, which is now in its 140th year, as a "family-owned brewer with a small residual pub portfolio".
When asked to confirm reports of the deal, a spokesperson for the brewer told WalesOnline: "SA Brain doesn’t comment on speculation".
This latest report comes just over three months since Brains put 99 of its most famous Welsh pubs up for sale - including the City Arms in Cardiff and the Dovey Inn in Aberdovey - with an asking price of £87.3m.
Less than a year earlier in December 2020, the brewer had announced that all 156 of its Welsh pubs would be taken over by pub group Marston's in a move that saved up to 1,300 jobs.
At the time, Brains' chairman said that the company had not taken the decision lightly but trading restrictions in place in Wales - such as 6pm closing times and bans on selling alcohol - had placed huge pressure on the business. You can read more about that here.
The pub freeholds being acquired by Song Capital and Cerberus in this latest reported deal are believed to represent "the core of the Brains pub estate".
Song Capital is an investment firm established by Daniel MacKinnon and Tom Pritchard, the latter of which previously worked with the founder of Punch Taverns, which has over 1,300 pubs across the UK.
The firms other partners include Neil Hyman, a former Slaughter & May partner, and Glyn Barker, chairman of Berkeley Group.
In recent years, the future of Brains has been questioned, with suggestions raised that the brewing operation of 150 different beers will move out of Wales.
The brewery moved away from its Cardiff Cntral site in 2019, with a huge seven-storey, 228-bedroom hotel now planned for the former site, as part of the wider Central Quay scheme in the capital. The company now has a smaller brewery in Splott, Cardiff.
When questioned by WalesOnline about the reports, a spokesperson for Brains said: "SA Brain doesn’t comment on speculation".
Song Capital and Cerberus Capital Management have been approached for comment.
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