Marston’s will 156 pubs from Welsh brewer SA Brain & Co – saving 1,300 jobs.
Brains is the Wales’s biggest brewer and pubs company, however, the group had come “under significant financial pressure”.
Brains chairman John Rhys said: “This agreement marks the formation of a lasting strategic relationship with Marston’s which secures the future of Brains’ pubs and 1,300 of our employees within them.
“We know and trust Marston’s to be excellent custodians of our pubs and, while this is not a decision we have taken lightly, we are confident that both our pubs – and our pubs teams – will thrive under their stewardship.”
Marston’s chief executive Ralph Findlay said that the deal would strengthen “our representation in south and west Wales while protecting the heritage and independence of an iconic Welsh business”.
“These high quality pubs are a great fit with our existing estate and will benefit from Marston’s scale and operational expertise to further unlock their excellent long-term potential,”
“We look forward to the pub teams joining us and to welcoming guests and the communities which they serve, back into these pubs as the country emerges from the pandemic over the weeks and months ahead.”