St Austell Brewery has added HSBC to its list of banking partners to help support an ambitious acquisition strategy.
The brewery has secured a £15 million revolving credit facility (RCF) from HSBC to help grow its thriving pub estate, which spans the length and breadth of the South West, from Bristol to the Isles of Scilly.
The funding will allow the business to increase investment over the next few years, helping to drive strategic pub and hotel acquisitions.
Colin Stratton, finance director and company secretary at St Austell Brewery, said: “We’re always looking at ways to grow and improve our estate, which includes some of the most well-known and best-loved pubs, inns and hotels in the South West.
“We have a very carefully considered acquisition strategy so were impressed when HSBC took a similarly strategic approach to our funding requirements. We’re delighted to be working with the bank, in particular our relationship director in Cornwall, Martin Rowe, and look forward to drawing on the funding when the right opportunities arise.”
James Jordan, HSBC’s head of corporate banking, South West, added: “St Austell Brewery is synonymous with Cornwall and the South West, which is a region HSBC has also had a presence in for many years. HSBC is committed to helping local businesses realise their growth ambitions, so we are thrilled to be added to the brewery’s banking roster and look forward to helping the company pursue its acquisition plans.”
