The Bottle and Glass in Picklescott, near Church Stretton, closed last September but is now under new ownership. It comes as national pub chain JD Wetherspoon announced it could open its first branch in Mid Wales – in Newtown – after plans were submitted to Powys County Council.
Jon Cornes, who has taken on The Bottle and Glass with partner Jane Wilde, said their aim was to restore the pub to its former glory and make it popular with people living locally.
He said that the pair would be creating about four new jobs initially with the relaunch, while also using members of the team from his partner's Jane Wilde Catering business, which is based in Church Stretton.
Mr Cornes, who hopes to open the pub later this month, said the pair had been excited to fulfil a long-held ambition of taking over the pub, which sits close to the Long Mynd and within the Shropshire Hills Area of Outstanding Beauty.
"We have always loved it here and came to eat here. We have had our eye on it. This time it came around again and we went for it."
The pub was closed in September last year by landlady Paula Gurney, who blamed a slump in trade on rising fuel costs and the state of the economy.
Meanwhile, plans have been lodged to turn the Black Boy Hotel in Broad Street, Newtown, into a Wetherspoons bar and restaurant.
Newtown Town Council's planning committee will meet on Wednesday to put together its formal response to the application.
Eddie Gershon, company spokesman, said: "We are very keen to own a pub in Newtown and we are delighted we are at this stage with this pub."