The narrow-line Seyfert 1 galaxy SBS 0846+513 was first detected by the Large Area Telescope (LAT) on-board Fermi in 2011 June-July when it underwent a period of flaring activity. Since then, as Fermi continues to accumulate data on this source, its flux has been monitored on a daily basis. Two further gamma-ray flaring episodes from SBS 0846+513 were observed in 2012 May and August, reaching a daily peak flux integrated above 100 MeV of (50+/-12)x10^-8 ph/cm^2/s, and (73+/-14)x10^-8 ph/cm^2/s on May 24 and August 7, respectively. Three outbursts were detected at 15 GHz by the Owens Valley Radio Observatory 40-m telescope in 2012 May, 2012 October, and 2013 January, suggesting a complex connection with the gamma-ray activity. The most likely scenario suggests that the 2012 May gamma-ray flare may not be directly related to the radio activity observed over the same period, while the two gamma-ray flaring episodes may be related to the radio activity observed at 15 GHz in 2012 October and 2013 January. The gamma-ray flare in 2012 May triggered Swift observations that confirmed that SBS 0846+513 was also exhibiting high activity in the optical, UV and X-ray bands, thus providing a firm identification between the gamma-ray source and the lower-energy counterpart. We compared the spectral energy distribution (SED) of the flaring state in 2012 May with that of a quiescent state. The two SEDs, modelled as an external Compton component of seed photons from a dust torus, could be fitted by changing the electron distribution parameters as well as the magnetic field. No significant evidence of thermal emission from the accretion disc has been observed. Interestingly, in the 5 GHz radio luminosity vs. synchrotron peak frequency plot SBS 0846+513 seems to lie in the flat spectrum radio quasar part of the so-called `blazar sequence.
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