FDBusiness.com

Young & Co Quits Brewing

 Breaking News
  • Agrial Continues Strategic Expansion With German Dairy Acquisition Agrial, the French farming and food co-operative, is continuing its quest to create value for its dairy farmer members by acquiring German company Rotkappchen Peter Julich Group, a specialist in cow’s and goat’s milk cheeses. The acquisition of Rotkappchen Peter Julich Group, which owns three famous brands in Germany, furthers the growth strategy of Eurial, [...]...
  • €191 Million to Promote EU Agri-food Products at Home and Abroad The European Commission has adopted the 2019 promotion policy work programme, with €191.6million to be made available for programmes selected for EU co-financing – an increase of €12.5 million compared with 2018. €89 million will be allocated to campaigns in high growth countries such as Canada, China, Colombia, Japan, Korea, Mexico, and the United States. Some [...]...
  • Müller Removes Sugar With New Yogurt Culture Müller Corner, one of Britain’s best loved yogurt ranges, is set to reduce sugar by up to 9% and gain a creamier texture, thanks to the discovery of a new yogurt culture. Following a rigorous research and development process which involved access to more than 13,000 strains, Müller discovered that the combination of two specific yogurt [...]...
  • Mintel Launches Purchase Intelligence in the UK Mintel, the world’s leading market intelligence agency, has launched Mintel Purchase Intelligence, the newest innovation in product comparison technology, providing rapid, reliable consumer opinion on every reported new food and drink product in the UK*. Every day, Mintel benchmarks consumer reactions to new product launches so manufacturers, companies and brands can immediately understand and analyse what is [...]...
  • Discovery, Plant-Based and Alternatives Lead the Top Ten Trends For 2019 Targeting increasingly adventurous consumers, set on new discoveries and experiences, will be key to developments in the food and beverage industry in 2019. The connected world has led consumers of all ages to become more knowledgeable of other cultures, contributing to 35 percent growth of “discovery” claims, when comparing 2017 and 2016 new product launch [...]...

Young & Co Quits Brewing

Young & Co Quits Brewing
August 11
15:02 2011

London-based Young & Co has exited brewing after selling its 40% shareholding in Wells & Young’s Brewing Company to Charles Wells, the English regional brewer and pub operator, for £15.1m. Young & Co will now focus on its portfolio of managed and tenanted pubs inLondon and the South of England.

 

Wells & Young’s was formed in 2006 following the merger of Young’s brewing operations with those of Charles Wells, with Charles Wells holding a majority 60% stake.

 

Young will use the consideration from the transaction to invest in the further development of its Young’s and Geronimo pub estates.

 

The existing, exclusive three-year rolling supply agreement with Wells & Young’s for the supply of drink to Young’s pub estate has been amended. There are now two agreements: one for beers and ciders, the other for wines and spirits. Both are two-year rolling agreements but Young cannot give notice of termination within the first two years.

 

The licences granted to Wells & Young’s in 2006 in respect of the Young’s beer brands remain in place and Wells & Young’s is fully committed to developing these brands.

 

In the 53 weeks to April 4th 2011, Wells & Young’s contributed £2.6m to Young’s total adjusted profit before tax. However, the ongoing profitability of the brewing business will be impacted by the loss of the Corona licence.

 

“This transaction is mutually beneficial for both Young’s and Charles Wells. Young’s is focused on investing in its premium pub estate whilst Wells & Young’s is looking to invest in developing new and existing beer brands,” comments Young’s chief executive, Stephen Goodyear. “We are pleased to retain good supply agreements and our customers will therefore continue to enjoy their customary array of quality cask ales and lagers throughout our estate.”

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 21, 2018expoSE European Asparagus and Strawberry Fair
  • November 27, 2018Health Ingredients Europe
  • November 28, 2018FOOD & LIFE
  • December 3, 2018P&P 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements