25 May 2022 | Firm news | Article by Daniel Morgan
Hugh James advises SA Brain on sale of pub portfolio to Song Capital
We have advised leading brewery firm, S.A. Brain & Co, on the sale of a portfolio of 95 pub investments to UK and European investment firm, Song Capital.
Lawyers from the Commercial Property team, led by Partner, Daniel Morgan, advised our long-standing client on the sale of the freehold and leasehold portfolio, with support from the Hugh James Corporate and Commercial and Banking and Finance teams. The proceeds of the deal will go towards paying down Brains’ remaining bank debt.
Along with the entire UK hospitality sector, the independent family-led brewery business, which has been operating since 1882, was severely hit financially by COVID-19 and UK lockdown restrictions.
According to the company, the deal provides a foundation for its modern state of the art facility, Dragon Brewery, where it brews its famous beers in the heart of Cardiff.
Commenting on the transaction, Daniel Morgan said:
“This is a significant property deal and another step in securing the future of one of the most iconic brewers in Wales. We’re delighted to have supported Brains in achieving this successful outcome. As hospitality and leisure businesses across the UK look to refinance, refocus and innovate post COVID, it’s a privilege for our legal teams at Hugh James to be able to support the sector at such a crucial time.”
Jon Bridge, Chief Executive at S.A. Brain & Co, said today:
“The team at Hugh James, led by Dan Morgan, have been superb, playing a key role in diligently supporting us through this significant transaction. Our long-standing relationship with Hugh James will certainly continue into the future as we continue to evolve and grow the Brains brand.”
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