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13
Apr 2023
Last Updated: 12/04/2023
Business Breakfast: Funding review could result in sale of Black Sheep Brewery
It’s time to join the Stray Ferret Business Club. The fourth in our series of networking events, with Banyan Bar & Kitchen, is a breakfast event on April 27 from 8am.
Don’t miss out on this chance to network with businesses from across the Harrogate district. Get your tickets by clicking or tapping here.
Black Sheep Brewery has launched a strategic review to explore funding options to develop the business. One option could be to sell the company.
The Masham based company has appointed Teneo as its financial adviser to support the review.
In a statement it said was "considering all options, one such option being a merger or an acquisition of the Company, in whole or in part, if such a solution offers the best outcome for shareholders and other stakeholders whilst providing a stable base for the future of the business."
Black Sheep said it was experiencing good sales volumes of its beers, however there remains a significant constraint on funding due to economic conditions.
Charlene Lyons, CEO said:
“We are pleased to have seen so many customers enjoying Black Sheep beers over the Easter bank holiday weekend, one of our busiest trading periods of the year. However, we believe that now is the right time to conduct this Strategic Review to secure the best outcome for our valued shareholders and other stakeholders.
The Brewery has exciting and ambitious plans for the future and interesting projects in the pipeline. Forward funding is an issue for many businesses in the tight market brought about by the after-effects of Covid-19 on the hospitality sector and this is exacerbated by the cost-of-living issues affecting consumer spending.
"We are confident that the wider investment market will see the opportunities presented by this well-established and highly regarded brand.”
Black Sheep said it was not currently in talks with any potential buyer.
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