Close Brothers has announced the sale of Close Brothers Brewery Rentals to MML Keystone, a fund managed by MML Capital. The transaction should complete this year.
While Close Brothers will no longer provide brewery container rental solutions, they will continue to offer specialist financing solutions to the wider drinks industry through Close Brothers Beverage Finance.
The Brewery Rentals business was established in 2007 and has successfully grown into one of the main providers of rental and maintenance services for brewery containers in the UK and Ireland.
The team operates from three sites and manages a fleet of more than 1 million kegs and casks, including long-term rental containers, ekegs, and ecasks. The team also provide container repair and maintenance servicing to the brewing industry.
The new leadership team from MML has extensive industry and specialist experience in starting, building, and scaling keg operations across the UK, Europe, Australia, New Zealand, and North America. They will be looking to expand Brewery Rentals’ long-established and trusted footprint, and will trade simply as ekeg.
“The Brewery Rentals business has been part of Close Brothers for over 18 years, and we have grown it successfully to now serve over 500 breweries in the UK and Ireland,” said Ross Mair, managing director of Close Brothers Beverage Finance.
“MML Keystone will provide a great home for our colleagues and customers. We would like to thank the team for their commitment and efforts, and we wish them continued success as they embark on this new phase.
“We’re excited to continue to offer specialist funding solutions through Close Brothers Beverage Finance to fuel the innovation and ambition of the beverage sector.”
Christian Barden, incoming chief executive, UK and Ireland, of ekeg, said: “Close Brothers has built a phenomenal business over the last two decades and we’re proud to have this opportunity to lead it through its next chapter and look forward to working with the management team to develop the ekeg offering, technology and people.”
• Ossett Brewery has made changes to its executive team. Matt Howgate has joined from Vocation Brewery to be production director. Meanwhile, Rich Nelson has been promoted to sales director.
In announcing the changes, managing director Edd Simpson talked up prospects for cask beer. “Our challenge as a cask producer is to embrace evolution and innovation while retaining our strengths and legacy, he said.
“Cask is the most authentic beer in the market, steeped in heritage and with the strongest call to be considered premium craft.
“By using this foundation with a progressive mindset, I believe cask beer has the potential to thrive, rather than survive, in the beer market of the future. And as a team we’re excited to be at the forefront of the resurgence of cask.”
• JD Wetherspoon is putting six of its venues on the market, three freehold/virtual freehold, and three leasehold.
The freeholds are the Water Gate, Barnstaple, Baxter’s Court, Hackney, and Kentish Drovers, Peckham. The leasholds are the Babington Arms, Derby, Grey Friar, Preston, and William Jameson, Sunderland.
