The pub, which has been empty for the last year, previously traded as Italian restaurant and wine bar Barocco's and Indian restaurant Babar Elephant before closing.
The Seafood Pub Company managing director Jocelyn Neve said work was due to start on the new site with plans to 'instil the company's ethos into the venue and once again make it a succcesful and loveable place to visit'.
“The venue has a fantastic history and reputation; we’re excited to bring this back to life, and really make the site work as a thriving pub for both locals in the area and guests from further afield," she said.
“Bedrooms will feature on site, and there will be a beautiful beer garden for customers to relax and enjoy delicious food and drink in the summer months.”
The Forest Inn will become the eighth to open under The Seafood Pub Company name in the last five years. It joins the Barley Mow in Barley, the Assheton Arms in Downham, The Farmer's Arms in Great Ecclestone, The Fenwick in Claughton, the Oyster & Otter in Feniscowles, the Derby Arms in Longridge and Town Green Brasserie in Aughton.
Neve added: “We’re hoping that the pub will reopen in August; it’s a great time for both us and the local community."