This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.theguardian.com/business/2015/dec/21/camden-town-brewery-sold-inbev-worlds-biggest-drinks-company
The article has changed 7 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Camden Town Brewery sold to world's biggest drinks company | Camden Town Brewery sold to world's biggest drinks company |
(35 minutes later) | |
The craft beer brand Camden Town Brewery is to put its independent image on the line after agreeing to be bought by the global drinks giant AB InBev. | |
The UK brewer said it had accepted a takeover offer from the world’s biggest drinks company in order to fund its growth plans. | The UK brewer said it had accepted a takeover offer from the world’s biggest drinks company in order to fund its growth plans. |
Related: UK craft beer: taking over the world one pint at a time | Related: UK craft beer: taking over the world one pint at a time |
The deal will add Camden’s niche Hells, Pils and Pale Ale brands to a stable that includes mass market offerings such as Budweiser, Stella Artois and Beck’s. AB InBev is in the midst of a considerably larger deal to buy its main rival, the Grolsch and Fosters owner SABMiller, for nearly £72bn. | |
Founder and chief executive Jasper Cuppaidge said the businesses needed a major investor to fund the construction of a second brewery that will create 30 jobs. | Founder and chief executive Jasper Cuppaidge said the businesses needed a major investor to fund the construction of a second brewery that will create 30 jobs. |
He added that the support of a major backer would help Camden Town Brewery maintain its position in the craft beer movement. | He added that the support of a major backer would help Camden Town Brewery maintain its position in the craft beer movement. |
“To stay at the forefront of this movement and secure our future success, we have to build a bigger brewery, employ more people and gain access to an international distribution network,” he said. “We can’t do this on our own.” | “To stay at the forefront of this movement and secure our future success, we have to build a bigger brewery, employ more people and gain access to an international distribution network,” he said. “We can’t do this on our own.” |
However, the company drew immediate criticism from James Watt, the founder of craft beer rival Brewdog. Watt said Brewdog would no longer stock any Camden Town beers in its bars because it does not sell drinks made by major brewers such as AB InBev. | |
Cuppaidge founded Camden Town Brewery in 2010 with just three staff. He has since built it into a well-known staple of London drinkers, selling 12m pints in 2015 at more than 1,000 pubs, bars and restaurants. | |
The business has recently received crowdfunding of £2.8m from fans of the beer who want to help it build its second brewery. The company did not say how the crowdfunding arrangement would be affected by the takeover deal, which is due to close by 7 January. | The business has recently received crowdfunding of £2.8m from fans of the beer who want to help it build its second brewery. The company did not say how the crowdfunding arrangement would be affected by the takeover deal, which is due to close by 7 January. |
Iain Newell, European director of craft beers at AB InBev, said: “We have a passion for great beer. Camden Town is a creative business with a great range of brands that will complement our existing portfolio.” | Iain Newell, European director of craft beers at AB InBev, said: “We have a passion for great beer. Camden Town is a creative business with a great range of brands that will complement our existing portfolio.” |