Tue, 21 May 2024 | BUSINESS SALE
Administrators from Interpath Advisory have completed the sale of the business and assets of a craft ale brewery based in Buxton, Derbyshire. Buxton Brewery, which was founded in 2009, is a producer and retailer of craft ales.
The company produces around 30 distinct brews and has volumes of approximately 3,500 litres per brew, seven times a week. The group supplies a number of supermarkets and national pub chains, as well as exporting overseas through several export partners. The company also operates four taprooms and bars in Buxton, an online store and a pop-up bottle shop.
Like many operators in the craft brewing industry, the group has experienced financial pressures since the COVID-19 pandemic, which were more recently exacerbated by interest rate increases and high cost inflation.
The director sought to explore the group’s options, including investment and a potential sale, but took the decision to appoint administrators amid mounting creditor pressure. Rick Harrison and Howard Smith of Interpath Advisory were appointed joint administrators of Buxton Brewery Company Ltd and Axe Edge Bars Ltd (together, “the Group”) on May 20.
Immediately following their appointment, the joint administrators completed the sale of certain of the group’s business and assets to Happy Place Investors Limited. The deal secures around 50 jobs as well as the group’s taprooms and bars.
Interpath Advisory Managing Director and joint administrator Rick Harrison 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."
Find out more about the pressures facing UK craft breweries
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