Business Loans Case Study
Award-winning Abbeydale Brewery was formed in 1996 when Patrick Morton & his father Hugh decided to pursue their love of fine beer by creating their very own brewery. The Brewery, owned by Patrick & his wife Sue employs 17 staff in the production of up to 10 regular and special beers every week.
Abbeydale produces 140 barrels of beer a week at its brewery in Aizlewood Road, supplying its range of beers to more than 400 pubs across Sheffield and beyond. It has an annual turnover of £2 million and has previously received investment from Finance Yorkshire in the shape of a £100,000 business loan.
The company has successfully grown the business over the last 17 years and was keen to move to the next level in its growth strategy, increasing barrel production from 140 a week to 180 a week. In addition, Abbeydale wanted to invest in new product development and produce more of its craft beer in keg rather than cask.
Finance Yorkshire provided a £200,000 business loan that enabled Abbeydale to purchase a range of new equipment, which included a new fermenter and the replacing of a hot liquor tank – key pieces of kit in the brewing of beers. Abbeydale also needed to replace its brewery floor and overhaul its telephone system as part of this latest development at the brewery.
The Investment Rationale
Finance Yorkshire Investment Manager Andy Chaffer said: “Abbeydale is a hugely successful and well run brewery that produces great beers with both passion and innovation. There is every reason to believe it will continue to grow its sales and market share in the UK.”
This latest expansion at the brewery demonstrates Abbeydale’s ambitions to continue to excel in the brewery sector, retaining its competitive edge and share of the home market. Sue Morton said: “Finance Yorkshire got us started in this market and this further funding enables us to continue to grow both our core business as well as our new product offer.”
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire