A team from Evelyn Partners LLP has concluded the sale of the business of the London-based craft brewery Brew by Numbers Ltd (BBN) to Breal Capital.
Finbarr O’Connell and Colin Hardman of Evelyn Partners were appointed joint administrators of BBN on 14th June. The brewery continued trading while the sale process was conducted. The deal has preserved the jobs for all employees of the business.
Brew By Numbers is well established, operating as a microbrewery with a taproom and an e-commerce sales channel. Founded in 2011, the original brewery and taproom was in Enid Street, at the heart of the popular Bermondsey Beer Mile. In 2021 the business moved its main production to a new brewery in Morden Wharf, Greenwich. It added a 400-person capacity taproom and outdoor space on the banks of the River Thames.
This is Breal’s third brewery acquisition this year, the company having acquired Black Sheep Brewery and Brick Brewery earlier this year.
“We are delighted to have completed on this sale to Breal, which we consider to be the best outcome for creditors and preserves all employment, while also maintaining a continuity of trade,” said Finbarr O’Connell.
“We thank our advisers, especially our lawyers, Gowlings, and all the employees for their support in this process. We will be continuing to work with the new owners to ensure a smooth transfer of operations.”
Colin Hardman added: “We have seen widespread pressure in the brewing industry over the past few years, due in particular to the pandemic, the post-Brexit complexity of export paperwork, increased materials costs, reduced discretionary spending, and changes to beer duty laws. This has resulted in numerous microbreweries being forced to close in recent years.
“It therefore comes as no surprise that the latest SIBA (Society of Independent Brewers) Craft Beer Report noted that 63% of its members said their business priority is survival. We are, therefore, even more delighted to have rescued this pioneering and much-loved brand.
“We want to thank all the key stakeholders including staff, financiers and critical suppliers for helping make this happen.”
A spokesperson for Breal said: “It’s been a pleasure working with the joint administrators on the transaction to buy BBN. This, the third acquisition in our expansion into the brewing sector, we are excited to be able to onboard BBN.
“BBN have a unique, well established product range, and equally well-known brand. They will add considerable value to the wider product offerings of Brick and Black Sheep breweries that are now a part of their brewing family.”
