By Business Editor Trevor Sturgess

Shepherd Neame is buying 13 more pubs in a £15m deal.

The pubs, owned by Punch Taverns, are all freehold and across the south east.

The 300-year-old Faversham brewer and pub operator is paying £14.86m in cash and says the pubs all have strong food and drink sales and are in good locations.

The latest purchase follows the buy-out of the Jamaica Wine House and The Westminster Arms in London and boosts Sheps’ pub estate to 378, of which 49 are managed and 329 tenanted and leased. It has also recently sold under-performing pubs for £7.2m.

The purchase, which is due to complete on May 26, will be financed by a £15m five-year loan from the Royal Bank of Scotland and Lloyds Banking Group.

• For more financial details, see our Kent Business website