Harrogate based Rooster’s Brewery has today announced the acquisition of Daleside Brewery Ltd. To facilitate the acquisition and to enable future growth, Rooster’s has raised a substantial amount of new capital from a private investor.
Also based in the North Yorkshire spa town, Daleside will continue to operate as a separate company with its existing team of staff and brew its well-loved range of beers, which includes the likes of Monkey Wrench and Morocco Ale and the ever – popular Daleside Blonde.
The operation of the Daleside business will, in due course, transfer and fill spare capacity at Rooster’s brewery in Hornbeam Park, Harrogate. However, the two businesses will continue to trade separately within their respective markets with the Daleside portfolio of beers brewed by their existing team, using their own dedicated strain of yeast to maintain the unique flavour of their beers.
Daleside Brewery was founded in 1991 by Bill Witty, who passed away in 2007. Eric Lucas joined the brewery in 1993, eventually becoming Managing Director. For over 30 years, he and the Daleside team ensured that the Daleside brands were enjoyed across the UK and abroad. Following the change of ownership, Eric and his fellow shareholders are stepping down from the business to enjoy retirement.
Ian Fozard, Rooster’s Chairman, said:
We are delighted to enable the Daleside business to continue beyond Eric’s retirement. We know the business and the team well and, with only a few miles between us, have helped each other countless times out over the years. In addition, my son Oliver, Rooster’s Head Brewer, did his apprenticeship and cut his teeth in the world of brewing at Daleside in the early 2000’s, while I was also a good friend of the Daleside founder, Bill Witty.
Eric Lucas, Daleside’s Managing Director, said:
I’m delighted that the long-term future of Daleside Brewery, its team and its brands have been secured and will remain in Harrogate with the highly respected and acclaimed Rooster’s Brewery. Being with Daleside has been an astonishing and enjoyable journey. On behalf of myself and my fellow owners, I would like to thank everyone who has contributed and has been part of this great Daleside experience. I’m sure that we’re all looking forward to many pints of both Daleside and Rooster’s beers in the future.
Corporate Finance adviser to Rooster’s was Miles Stanyard of ParkHill Corporate Finance who said:
It was a pleasure to work with Ian Fozard once again. The long – standing relationship between the parties allowed an early meeting of minds and as a result the deal was concluded with a refreshingly large amount of goodwill and that rarest commodity, common sense, without the usual tedious posturing. The transaction provides a positive outlook for all parties including the staff of both businesses. This is a deal I was proud to support.
Adrian Ballam and Rachael Sykes of Ward Hadaway’s Leeds Corporate Team provided legal advice to Rooster’s:
Ward Hadaway is proud to have played a role in this local good news story. The acquisition of Daleside Brewery means an exciting new chapter for this longstanding business whose traditional beer brands complement Rooster’s respected brands in the local and national beer market. It is a winning combination that we are happy to toast!
