The rocker will run the establishment with his former bandmate Andy Nicholson.
Helders and Nicholson will open The Bowery on September 20 with a gig, featuring special guest performances.
"Matt and Andy have had their eye on setting up a pub for ages," a source told The Mirror. "When the property came on the market they had to have it.
"It's perfect, Matt puts in most of the money and Andy can DJ there and manage it when Matt is off touring. All the lads can relax there and bring their mates to jam."