Thu, 06 Jun 2013 | BUSINESS SALE
A brewery in Suffolk is being put on the market with the hope that the right buyer will be able to grow the business into a much bigger affair.
St Peters Brewery is to be sold for around £15 million, although an official sale is yet to be announced. Chances are pretty high that this is the route the company will take, however, as the business' chairman and founder John Murphy is keen to exit the business ahead of his retirement in 2014.
The brewery has won an EDP Business Award in the international business category, praising it for its successful expansion into the export market. St Peters sells a range of its bottled beers in around 35 overseas markets.
Colin Cordy, managing director of the business, commented on the probable sale while talking to EDP24: “John’s belief is that we can probably grow tenfold in the next three to five years. It will come to market at some point.
“We are looking for a premium on our business to reflect the major status of our brand – it’s really a question of finding the right person. I think it’s fairly unlikely that someone would come in and close the business down. John in particular would be disappointed if that happened.”
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