Tue, 02 Jan 2024 | BUSINESS SALE
Administrators have secured the sale of Warwickshire-based craft brewery Purity Brewing Company to Breal Capital in a deal that secures 60 jobs. The business had fallen into administration amid widespread adverse trading conditions in the hospitality sector.
Joint administrators Mike Denny and Mark Firmin of Alvarez & Marshal LLP completed the sale of Purity Brewing Company and Pure Craft Bars to Breal Capital, which has completed several deals in the hospitality sector over recent months.
Breal’s recent acquisitions include a deal to take wine bar operator Vinoteca out of administration in August, the £60 million acquisition of restaurant group D&D London in October and the May 2023 acquisition of North Yorkshire brewery Black Sheep Brewery.
Purity Brewing brews and sells sustainable beers for both on- and off-trade. The company’s products include Mad Goose IPA, Lawless Lager and Longhorn IPA. In addition to its brewery operation, the company is also the parent of Purecraft, which operates a bar and kitchen location in Birmingham.
Joint administrator Mark Denny commented: “Like many operators in the hospitality sector, Purity Brewing and Purecraft have endured tough market conditions.”
“Most recently, the impact of significant cost inflation coupled with reduced discretionary spend has placed significant strain on the companies. We’re pleased to have preserved the future of both businesses and the Purity brand by delivering the sale to Breal Capital, safeguarding all 60 local jobs.”
Purity Brewing Managing Director John Hunt added: "We all know the brewing industry has had a turbulent time of late, and like many others, the business has certainly felt the pressure of rising costs.”
"However, we’re incredibly pleased Breal recognises the value and uniqueness of our offering and had the vision to invest in securing the future of the brewery."
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