Keystone the private equity group which owns a number of brewery brands as well as Black Sheep at Masham, North Brewing in Leeds and Purity in Warwickshire has served notice of intent to file for administration. The story was broken by James Beeson in The Grocer.
The notice of intent process allows time for a restructure or sale. If neither works then administration is a likely next step. At the moment the brewing businesses and jobs are protected and continuing as normal.
While a cost of living crisis and an unhelpful Budget, as highlighted by CAMRA, are shorter term issues the underlying problem is arguably that Keystone are a private equity outfit that lack experience of the brewing and hospitality business.
James Beeson in The Grocer notes that a sale would be problematic in the current climate.
Black Sheep filed for administration in 2023 before being acquired by Keystone and Purity and North Brewing are also functioning breweries. The remainder of Keystone’s portfolio are essentially brands of closed breweries around England that are currently brewed at Masham
190 jobs are potentially at risk. Hard times
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