Hartlepool-based brewer and pub operator Camerons Brewery has announced that it has agreed a refinance of its business and new funding package.
The agreement is with Sandton Capital Partners alongside Independent Growth Finance (IGF) and will support the Camerons Group’s strategic growth strategy.
Sandton, a London- and New York-based investment fund provider, and IGF, one of the UK’s leading independent lenders, have structured a comprehensive financial package that includes the refinancing of the existing debt and the provision of new working capital.
Camerons plans to invest in its two business operations: one of the largest independent contract brewers in the UK, and an estate of 44 pubs and bars throughout the UK, which includes their flagship Head of Steam and Urban Country Pub brands.
The contract brewery side of the business manufactures a range of domestic and international beers and ales for a variety of customers, from smaller growing craft customers to major global brand owners.
The facilities provide an extensive range of services. As well as brewing,there is packaging into keg, cask, can, and bottle, plus the manufacture of water and soft drinks. They have also recently agreed a national distribution listing with ASDA for their Tooth and Claw craft beer brand Jellyfish Nebula.
Camerons Brewery is a family owned and managed business, having been acquired by David Soley in April 2002. David remains chairman of the business, with Chris Soley running the business as the group’s chief executive and John Foots supporting as chief fiance officer.
“Camerons Brewery has a long trading history, with a strong profit and loss, supported by an excellent management team,” said Toby Bundy, investment manager at Sandton. “The team have exciting plans to grow their business and invest in their current pubs, and expand their estate.
“We are delighted to support their ambitions, and look forward to their continued expansion and development. It’s our priority to provide capital solutions to quality UK businesses in order to help them realise their ambitions, and Sandton is pleased to be working with such an established brand in the North East.”
Chris Soley added: “The business has performed well, despite the challenges that hit our industry in recent years. Thanks to the funding from Sandton and IGF, which includes a competitive refinancing and working capital solution, we are now well placed to take the business forward again.
“The teams share our vision and support our investment in the infrastructure and expansion of both sides of the business. Their investment demonstrates confidence in Camerons Brewery and recognises the financial strength of our business and our focused strategy for profitable growth.
“We’re excited for what is ahead, seeking to grow our position as a leading contract brewer and invest into our existing pubs and open new locations in new cities throughout the UK.”
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