The Society of Independent Brewers (SIBA) has sold its majority shareholding in Flying Firkin Distribution (FFD) to Marketing Maanagament Services, following a competitive tender process. Nina Bates remains in place as minority shareholder.
The value of the transaction was by reference to FFD’s current net asset valuem but the consideration has not been disclosed. FFD will soon continue to trade, distributing cask beer across the UK, following a period of non-trading due to Coronavirus lockdown measures.
Speaking on behalf of the SIBA board, chairman, Ian Fozard, said: “Following a small investment and business development by SIBA, Flying Firkin Distribution is a modernised and viable businessm which will continue to support independent brewers under its new stewardship by Marketing Management Services Ltd, who have proven experience in cask beer wholesale and distribution.
“SIBA’s board of elected directors, made up of independent brewers from across the UK, have been consulted at all stages of the sales process, and during SIBA’s stewardship of FFD we have protected and facilitated around £2.5 million worth of business for SIBA member breweries. We wish MMS the best of luck and feel confident the sale is in the best interests of the FFD business.”
Gerald Michaluk, managing director Marketing Management Services, said: “Flying Firkin was saved by the prompt and responsible action of SIBA, stepping in at a critical time, and this intervention has been hugely beneficial to small independent brewers. We are looking to take over and grow the business, despite these difficult times for the whole industry.
“Flying Firkin is in a good shape to stand up for itself once again, and Marketing Management Services will support the business as we work our way through the current crisis and to a point where, once again, we can all enjoy craft cask beer in our local pub and festivals, showcasing the best of British beer.”