Daniel Thwaites PLC has exchanged contracts to sell the major part of its’ beer business to Marston’s PLC: the businesses that sell and wholesale beers to the independent free trade, national pub companies, wholesalers, supermarkets and export. It has also sold two beer brands, Wainwright Golden Ale and Lancaster Bomber. Thwaites’ distribution operation and free trade loan book will also be sold, and Marston’s will continue to brew some brands under license. Marston’s have been brewing Wainwright and Bomber since early 2014. The consideration is in the region of £25m, plus working capital.
The sale is subject to a consultation process and it is envisaged that approximately 150 employees will be transferring to Marston’s before the end of April. Thwaites has retained ownership of its’ ‘craft beer’ brands and other cask ale brands, including its seasonal ale range, which it will continue to brew and sell in its’ own properties.