Brewing giant Heineken will reopen 62 pubs that were closed in recent years and invest £39 million in refurbishing hundreds of sites across the UK.
The company said the cash injection into its Star Pubs & Bars chain will create more than 1,000 new jobs.
The UK pubs industry has been hard hit by closures since the Covid-19 pandemic as cost of living pressures weighed on consumer spending.
Between 2021 and 2023, pubs have closed at a rate of 500 a year, according to the British Beer and Pub Association.
Star plans to renovate more than 600 pubs – around a quarter of the 2,400 strong chain – choosing locations it said reflect how many of its customers have cut back on how often they commute into city centres.