Asset based lending finances national brewery

Black Sheep Brewery

Our customer

Black Sheep Brewery is a renowned brewer of cask, keg and bottled beers. Established 25 years ago in Masham, North Yorkshire, their beers are now sold nationally and internationally. In 2017 they collected four awards at the World Beer Awards. The company has been a client of Close Brothers Brewery Rentals for many years.

Business challenge

The market has changed considerably in recent years with the increasing popularity of craft beers, changing consumer habits and start up breweries. Black Sheep are well placed producing quality beers with a strong heritage.

They have responded to market change by creating new sales channels and expanding their product range to meet consumer demand by introducing new craft ales and a small batch lager, 54⁰ North.

The solution

To meet their goals, Black Sheep Brewery needed a flexible funding package which could finance investment and growth. Close Brothers took the time to understand the business and its requirements, offering an asset based lending package including an invoice finance facility. The financial strength of Close Brothers and excellent customer service meant Black Sheep could be confident establishing a long-term relationship.

Jo Theakston, Sales and Marketing Director at Black Sheep Brewery, says

“The view of asset based lending has changed in the last 10 years. It was once the lender of last resort, but now more and more businesses see it as a way of achieving growth. It has allowed us to focus on the future and be proactive in terms of more significant investments.

Result

Ed Langham, Corporate Sales Director at Close Brothers, says “We are delighted to be supporting Black Sheep Brewery in the next phase of its development and providing a debt package which really works for the business.”

Jo continues “Asset based lending allowed us to have the headspace to grow and invest, especially in new product development including the purchase of new casks, the current full refurbishment of the Brewery Visitor Centre and a five barrel microbrewery. The microbrewery allowed us to experiment with new products and develop what has become our craft beer range and try new territory.”