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Barracuda Pub Group is looking to invest £50m in the development of a further 40 Smith & Jones pubs, and is also reported to be seeking private equity investors to acquire a majority stake.
Barracuda is to expand its chain of 206 pubs and bars with 14 new sites by the end of the year.
Barracuda is planning to expand its chain of 155 pubs and bars with 30 new sites this year.
Barracuda is planning to open about 25 pubs in the current financial year, taking the total to 170, and has £20m to spend on acquisitions.
Barracuda is planning to spend £18m on acquisitions to expand its chain of 142 pubs this year.