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27
Feb 2024
Black Sheep Brewery chief executive leaves
The chief executive of Masham’s Black Sheep Brewery has stepped down after nearly nine years in post.
In a press release today, the company said Charlene Lyons had left to “pursue other interests”.
She is succeeded by Mark Williams, the chief executive of Keystone Brewing Group, which acquired Black Sheep last May after it entered administration.
Mr Williams said:
He will be assisted by John Hunt, former managing director of Purity Brewing Co., who will take on the role of chief financial officer at Keystone Brewing Group.
It was also announced today that private equity firm Breal Capital, which bought Black Sheep for £5 million on May 26 as part of a pre-package administration deal, had rebranded as Keystone Brewing Group.
The Black Sheep rescue package resulted in a "small number" of staff losing their job. However, Ms Lyons was kept on.
Administrators Teneo Financial Advisory revealed sales fell from a high of £19 million in 2019 to £14 million in 2022, which resulted in a £1.6 million loss.
The move left creditors, including HMRC and suppliers, owed nearly £3 million.
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