Breal Capital completes acquisition of Brew By Numbers
London-based brewery Brew by Numbers has been sold to Breal Capital following news it was securing a deal to save it from administration.
Back in May, the craft brewery hinted that it was in the final stage of a restructuring deal and yet by 14 June Finbarr O’Connell and Colin Hardman of Evelyn Partners were appointed joint administrators and continued trading the brewery whilst conducting a sale process of the business.
Brew By Numbers, which operated as a microbrewery with a taproom in London and an e-commerce sales channel, was founded in 2011 with the original brewery and taproom opening in Enid Street at the heart of the ‘Bermondsey Beer Mile’. By 2021 the business moved its main production to a new brewery site in Morden Wharf, Greenwich and added a 400-person capacity taproom and outdoor space on the banks of the River Thames before falling on troubled times.
Colin Hardman, a partner at Evelyn Partners and a joint administrator of Brew By Numbers, said: “We have seen widespread pressure in the brewing industry over the past few years due in particular to the Pandemic, the post-Brexit complexity of export paperwork, increased materials costs, reduced discretionary spending and changes to Beer Duty laws. This has resulted in numerous microbreweries being forced to close in recent years. It therefore comes as no surprise that the latest SIBA (Society of Independent Brewers) Craft Beer Report noted that 63% of its members said their business priority is survival. We are therefore even more delighted to have rescued this pioneering and much-loved brand. We want to thank all the key stakeholders including staff, financiers and critical suppliers for helping make this happen.”
A spokesperson for Breal Capital added: “This, the third acquisition in our expansion into the brewing sector, we are excited to be able to onboard Brew By Numbers. Brew By Numbers has a unique, well established product range, and equally well-known brand.
Breal continues its strategy of brewery acquisitions, having earlier in 2023 concluded deals for Yorkshire-based Black Sheep Brewery, where redundancies and pub closures took place, and Peckham-based Brick Brewery which it bought out of administration in the summer.
Brew By Numbers’ taproom at Morden Wharf will continue trading as normal, with minimal disruption and the administrators insisted that Breal Capital has preserved the jobs for all employees of the business.