Wales' biggest brewer and pub company, SA Brain is looking to sell the freehold of 99 pubs from its 200-strong estate, according to the group's latest financial filing at Companies House.
SA Brain reported, 'The directors have sought external advice on the approach and are moving into a process which will see an experienced advisor being appointed to execute the sale of the core 99 group pubs.
'Significant interest has been generated with a number of off-market offers being received for a number of ‘packages' of assets and single asset sales, a number of which have been moved to Heads of Terms, giving the directors confidence in the ability to fulfil this initial strategic goal.'
In February this year, the deal completed with Marston's to take over the running of more than 150 Welsh pubs from SA Brain, after ongoing Covid restrictions placed Brains under significant financial pressure.
This deal and restructuring has given Brains stability and enables the group to focus on generating cash from sales to repay bank debt and other financial obligations.