Brains, the Cardiff-based pub operator and brewing company, has signed a £20m agreement with Lloyds TSB Corporate Markets to help fund plans to expand its estate.

The group currently manages 260 pubs, bars and hotels across the South Wales and west of England region and now aims to take advantage of the 'stabilising' market to increase its food-led and drink-led portfolio. Brains finance director Martin Reed said: "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.

"We want to be in a position to move quickly when we find appropriate sites and, having worked extensively with Lloyds TSB in the past, we knew we could rely on the Cardiff team to respond quickly to our needs." Paul Williams, relationship director for Lloyds TSB Corporate Markets in Cardiff, added: "Pubs faced a difficult time during the recession but now conditions are improving, the forward-looking approach of the team at Brains means the business is well-placed to take advantage of new opportunities."

Image: (from left) Jason Evans, area director for Lloyds TSB Corporate Markets; Philip Lay, retail director for Brains; Martin Reed; and Paul Williams