Brains set for multi-million pound shopping spree

Welsh brewer Brains is looking to expand its pub estate, having secured a £20 million credit agreement with Lloyds TSB.

The Cardiff-based brewer already operates 260 pubs, bars and hotels across Wales and the West of England but is keen to capitalise on what it views as a stabilising pub market.

Martin Reed, finance director for Brains, said: “While the hospitality industry has experienced some tough times in recent years, we believe the pub market is starting to regain its footing and now is an opportune time to look at acquiring some new quality outlets that offer us long term sustainable growth.”

Explaining the decision to seek this revolving credit facility from Lloyds TSB, Reed said: “We want to be in a position to move quickly when we find appropriate sites”.

Jason Evans, South Wales & Severnside area director for Lloyds TSB corporate markets, described Brains as “an iconic Welsh brand”, adding: “As a long-standing privately-owned business, the company has a highly experienced team at the helm and we look forward to continuing our close working relationship with Brains for many more years to come.”

Still owned by the descendants of its founders who established the brewery in 1892, Brains has cultivated close links with Welsh sport through sponsorship of Welsh Rugby Union and the Football Association of Wales.

Gabriel Savage, 14.09.2010