Buxton has become the latest brewery to be saved by an investment company, in this case Stockport-based Happy Place Investors Ltd.
In common with many other craft breweries, Buxton had experienced financial pressures in the wake of the Covid-19 pandemic, which were then exacerbated in more recent times by high-cost inflation and increases to interest rates.
The director sought to explore the options, including sale and investment, but with creditor pressure mounting, they took the difficult decision to seek the appointment of the administrators.
Immediately following their appointment, the joint administrators — Rick Harrison and Howard Smith from Interpath Advisory — sold certain of the business and assets of the group to Happy Place Investors Ltd. The deal safeguards the future of the brewery and the group’s taprooms and bars in Buxton, and the employment of some 50 members of staff.
Rick Harrison, managing director at Interpath Advisory, said: “Independent craft brewers have had to navigate a number of headwinds in recent times, not least the long-term impact of the pandemic, as well as the impact of inflation on raw material costs.
“We’re therefore pleased to have concluded this transaction, which safeguards the future of this well-regarded craft ale brand and its collection of popular taphouses in Buxton. We wish the purchaser and all of the team at Buxton Brewery all the best for the future.”
