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REAL ALE LOVERS BUY STAKE IN PUB GROUP
Beer lovers have shown their thirst for a new brewing venture by buying a stake in the company.
The Campaign for Real Ale's (Camra) investment club has taken the share - worth around 240,000 - in Preston-based pubs operator Honeycombe just weeks before the company is taken over by historic Liverpool brewery Cains Beer Company.
The enlarged Cains Beer Company will combine the brewer's best-loved pints, such as Cains' Formidable Ale, with Honeycombe's network of around 100 pubs in the North West following the reverse takeover, which should be confirmed on June 7.
Camra's investment club has around 12 million in funds in real ale brewers, including 1 million-plus stakes in Adnams, Greene King and Marston's.
But this is the first time it has bought as big a stake in a regional business so quickly.
Camra spokesman Dave Goodwin called the tie-up an exciting development and added: Cains is creating the first integrated pub and brewing business to list in over 10 years.
We see it as a long-term investment and support for a business which is producing quality beers and getting into more outlets as a result of the deal.
Cains' brewery is known in Liverpool as the Terracotta Palace and has been a landmark in the city since 1887.
As well as its Formidable bitter, it also brews Cains Finest Lager, maturing the drink for three months.
But it was losing 2 million a year and on the brink of closure when it was bought by Indian entrepreneurs Sudarghara and Ajmail Dusanj in 2002.
Since then the brewery's fortunes has recovered and Cains has been chosen as the official beer of Liverpool's reign as Capital of Culture next year.
It also has a deal to supply Cains beer to Britain's Tate galleries.
Beer lovers have shown their thirst for a new brewing venture by buying a stake in the company.
The Campaign for Real Ale's (Camra) investment club has taken the share - worth around 240,000 - in Preston-based pubs operator Honeycombe just weeks before the company is taken over by historic Liverpool brewery Cains Beer Company.
The enlarged Cains Beer Company will combine the brewer's best-loved pints, such as Cains' Formidable Ale, with Honeycombe's network of around 100 pubs in the North West following the reverse takeover, which should be confirmed on June 7.
Camra's investment club has around 12 million in funds in real ale brewers, including 1 million-plus stakes in Adnams, Greene King and Marston's.
But this is the first time it has bought as big a stake in a regional business so quickly.
Camra spokesman Dave Goodwin called the tie-up an exciting development and added: Cains is creating the first integrated pub and brewing business to list in over 10 years.
We see it as a long-term investment and support for a business which is producing quality beers and getting into more outlets as a result of the deal.
Cains' brewery is known in Liverpool as the Terracotta Palace and has been a landmark in the city since 1887.
As well as its Formidable bitter, it also brews Cains Finest Lager, maturing the drink for three months.
But it was losing 2 million a year and on the brink of closure when it was bought by Indian entrepreneurs Sudarghara and Ajmail Dusanj in 2002.
Since then the brewery's fortunes has recovered and Cains has been chosen as the official beer of Liverpool's reign as Capital of Culture next year.
It also has a deal to supply Cains beer to Britain's Tate galleries.
