Yorkshire-based North Brewing Co has been sold out of administration to the director of a fellow Leeds brewery, saving 78 staff jobs.
North Brewing Company Limited, North Brewing Leisure and North Brewing Management Limited appointed Howard Smith and Rick Harrison of Interpath Advisory on 25 January 2024. Who immediately sold the business and its assets to Vertical Drinks Limited and Kirkstall Brewery Limited.
North Brewing Co will continue to be an independent brewery operating from its Springwell site and will be run by the existing management team. The new company will be known as Vertical Drinks Ltd T/A North. It also trades through its own taprooms and bars and sells to pubs and bars across the country directly and via beer wholesalers.
The company had struggled with the rising cost of energy, labour, and raw materials.
The deal safeguards the future of the brewery in Leeds, as well as the North Taproom bars in Leeds and Manchester.
John Gyngell, co-founder of North said: “We are pleased to have found a solution for our team and the legacy of the North brand”.
Steve Holt of Kirkstall Brewery added: “We’ve been friends and industry colleagues for almost 30 years, North is an iconic beer brand that had to continue. Together we’ll make sure that North will continue to make some of the best beer in the country.”
The North Taproom in Birmingham is not included in the sale and is set to close with 15 redundancies.
Tom Swiers, head of food and drink at Interpath Advisory, said: “North Brewing Co is a renowned craft brewer that has forged an excellent reputation over the years for the quality and innovation of its beers.
“We are pleased to have completed this transaction which represents an exciting tie up of brilliant beer brands based here in Leeds.
“The deal will allow the Group to move forward under new ownership and we wish the purchaser and the management team all the best for the future.”