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Cropton Brewery seeks capital investment, but is ‘not for sale’
North Yorkshire-based Cropton Brewery has revealed it is seeking capital investment to help it progress into the future.
Speaking to local press following a mix-up this week where the North Yorkshire brewery was cited as being up for sale, its owners have reassured it is ‘business as usual’ and the brewery is not for sale although it is “seeking capital investment”.
The Cropton Brewery, which also operates the New Inn in the village of Cropton, near Pickering, was founded by bothers Paul and Philip Lee, along with the New Inn pub and related businesses and were reported to be on the market for £7.5million. Despite reports, Cropton brewery managing director Philip Lee told local press: “That advert should have been taken down last year. We took it off sale last November. I have been trying to get hold of the agent.”
According to the sales particulars cited by other local press, the business offered a “unique opportunity to acquire a forward-thinking company with outstanding products fit for a global market” however Lee has said the business should not be touted as ‘for sale’ when it is not.
The brewery known for its original beer Two Pints, is capable of producing 1,000 kegs of beer per week and makes other well-known beers including Monkman’s Slaughter and Blackout. The combined businesses have also been reported to have a turnover of about £12 million per year.
Speaking about the incorrect reportage of the ‘sale’ Lee told reporters that the news had led to some cancellations of brewery tours and added: “As if things aren’t bad enough. I must have also had 10 messages asking ‘is my job safe.’”
The Lee family regained control of the brewery, which they founded in 1984, last summer “after a short period of management by a separate entity.” Since then, the family have been working on ensuring a long-term future for the businesses, including contract brewing for other brewers.
The brewery is situated in the North Yorkshire Moors National Park and has been producing ales since 1984, although the brewing traditions in the village date back more than 400 years.
Lee added: “In the brewing industry and the pub industry only the strong will survive. Hopefully, we will be one of them” and revealed that the brewery is also looking at ‘going green’ and intends to launch new brands in due course.
He added: “We are looking for investment. We will have an investment pitch ready soon.”
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