BEAVERTOWN TAKE-OVER
In 2018, Beavertown sold a 49% stake in the company to Heineken for £40 million. This was used to fund the building of a state-of-the-art brewery in Ponders End. Consequently, Beavertown’s sales increased from £12.7 million to £35.2 million in just two years. Now, however, as seems to be the way of these things, Heineken have acquired the remaining 51% and total control of the business. Beavertown’s founder, Logan Plant, will stand down as managing director, to be replaced by Heineken’s Jochen Van Esch. Mr Plant will retain an advisory role. Mr Van Esch said that the company, “will not see a huge change because the strategy is right, the brand is in growth, it has a fantastic culture and work ethos and people love the beers. We will support, invest in and grow the company, and I am incredibly excited about the future.” It is understood that the arrangement with Tottenham Hotspur football club will continue.
BREWDOG CLOSES PUBS
On 31 August, BrewDog announced that they were closing six outlets. They put this down to ‘spiralling costs and a clueless Government’. Three of the six are in London. They are the Smithfield Market Arms, formerly Draft House Farringdon; BrewDog Dalston and Brewdog Old Street, formerly Draft House Old Street. Readers should not read too much into this. Most likely the company is ‘rationalising’ before the energy price increases take effect. They will not be the only ones. See here for news of BrewDog’s latest London opening.
JENNINGS TO CLOSE
In this edition’s introduction, I refer to the statement made by leading members of the British Beer and Pub Association (BBPA). This is what the chief executive of Carlsberg Marstons, Paul Davies, said: “The UK’s brewing industry is facing a crisis far graver than the Covid lockdowns of the past few years. We have seen surging commodity prices and a doubling in the cost of malt, as well as CO2, gas and energy costs nearly tripling since 2019. On top of all this, our industry has felt the impact of an over 50% rise in aluminium costs for cans, plus rising labour costs. Without immediate, direct Government support, many of the UK’s craft and cask ale breweries will have no choice but to close for good. We are going to lose in one winter, generations of iconic beer brands.” True to his word, on 7 September, he announced that Jennings Brewery in Cockermouth, Cumbria will close. The site will continue to operate as a ‘logistics centre’ and the brewing of Jennings brands will transfer to Burton on Trent. The closure is attributed to ‘a significant decline in volumes’ and operating below capacity. The signs were there however; see the report in our April/May 2022 edition.
KICKING HORSE GO INTO LIQUIDATION
There is concern for the future of three pubs in north London following their owners, Kicking Horse 3, being liquidated. The pubs are: the Sir Richard Steele, the Dartmouth Arms and the Black Cap. It is understood that all three are to be sold in what the Camden New Journal described as a ‘fire sale’. As mentioned in our previous edition, the pubs had already been put on the market back in May and the company’s failure is being put down to it not having been able to secure planning permission to convert the upper floors of the pubs into flats, with consequential financial difficulties. This situation has its origins in the demise of the Faucet Inn pub chain. Kicking Horse also own the Grade II-listed Warrington Hotel in Maida Vale plus four pubs outside London. It is not clear what is happening to these. The Black Cap, which closed in 2015, is, of course, a legendary LGBTQ+ venue. The Black Cap Community Benefit Society have been trying hard to negotiate an agreement to run the pub, which has Asset of Community Value listing. This latest development must be very frustrating for them but let’s hope that they can still achieve their aim.
LION BRANDS SOLD
I mentioned in our April/May edition that Lion Little World Breweries, a subsidiary of Japan’s Kirin Brewery, were reviewing the future of their UK businesses, FourPure and the Magic Rock Brewing Company. These have now been sold to a new company, Odyssey Inns, based in Westerham, Kent. The new company has links to the Utopian Brewing Company in Devon. Lion purchased FourPure in 2018 and Magic Rock the following year. The FourPure brewery and taproom (Basecamp) is on the Bermondsey Beer Mile and Magic Rock brew in Huddersfield and have taprooms there and in Holmfirth. Lion also operate the Little Creatures brewpub in King’s Cross but it is not clear what will happen to that.
NEWS FROM FULLER’S
In July, Fuller’s opened one new pub and reopened another after refurbishment. The new pub is the Queen’s Arms at Terminal Two, the Queen’s Terminal, at Heathrow Airport. It is their first landside pub. The other is the George & Dragon in Westerham, Kent. This 16th century coaching inn, a former tenancy, has been refurbished at a cost of £2.4 million and has 13 letting rooms. It has been added to Fuller’s Bel & The Dragon brand.
Fuller’s, the Asahi owned brewery company, have agreed a five year sponsorship deal with English Premiership rugby union team, Harlequins. This will include a refurbishment of the bar facilities at their home ground, the Stoop (correctly the Sir Adrian Stoop Memorial Ground), in Twickenham. One end of the ground will be renamed the Fuller’s London Pride South Stand.
NEWS FROM SHEPHERD NEAME
Congratulations to Shep’s chief executive, Jonathan Neame, who has been installed as the Master of the Worshipful Company of Brewers for 2022/2023.
Shep’s have acquired three further pubs, this time on the other side of the water in Essex. They are the Bellhouse in Leigh-on-Sea, the Exchange in Southend-on-Sea and the Hamlet Court in Westcliff-on-Sea. They were acquired from the East Anglia Pub Company. This takes Shep’s estate, including hotels, to 303.