Family-run brewery to expand with multi-million funding from Royal Bank of Scotland


Family-run brewery to expand with multi-million funding from Royal Bank of Scotland

The Royal Bank of Scotland has provided a £25 million refinancing package to brewery Joseph Holt Ltd.

 

The funding will support further growth plans in the company’s pub estate and brewery and in the development of new products.

Established in 1849, Joseph Holt Ltd owns 128 pubs throughout Manchester and the North West. The family-run brewer, with the family’s sixth generation now working in the business, has been brewing award-winning beers and lagers since 1860.

Joseph Holt and the Royal Bank of Scotland have been working together for more than 150 years. In 2016 the business spent £5m on refurbishments and the recent financing package will be used to acquire and open more community pubs and food-led pubs in the Pub Restaurant Division.

Phil Rowan, Finance Director at Joseph Holt, said: “As the industry changes, we need to ensure we are in the best place to meet the needs of our diverse customer base. Our expansion plans will help us deliver our commitment to being an industry leader which is innovative and we are focussed on creating strong community pubs with a high quality food offering. We have been working with the Royal Bank of Scotland for a very long time and value the support they have given us over the years. They have looked at our requirements over the short and medium term and structured our funding in a simple way, enabling us to plan for the future.”

Chris Yau, Relationship Director at the Royal Bank of Scotland, said: “Our relationship with Joseph Holt is as strong as it was when it first started, over 150 years ago. We have supported the brewery through a range of business developments to enhance the brand and we wish the brewery every success for the future.”

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