Former manager has glass Half Full after brewery acquisition
ILKLEY BREWERY has been bought for an undisclosed sum by its former sales and marketing manager Luke Raven, who has set up a vehicle to invest in and create companies within the beer industry.
Half Full Beer Co was started in April and is 85% owned by Sandinista founder Si Ord, with managing director Mr Raven – who spent seven years working at Sandinista – owning the remainder.
Ilkley Brewery was founded in 2009 by Chris Ives, with Glentrool Capital Partners investing a mixture of debt and equity in 2011, enabling the brewery to quadruple its output. Mr Raven joined in the middle of 2011, running its marketing and sales as revenues grew to £1.6m, before leaving in March.
Mr Raven said there will be immediate investment in expansion of production at Ilkley, leading to the creation of more jobs.
He added: “With the quality of its beers recognised, and demand high, the opportunity to continue to be a part of the Ilkley Brewery story was not one to be passed up. We are excited and focused on providing fresh impetus to continue building the Ilkley brand.”
The brewery has the capacity to produce two million pints a year and it supplies supermarkets, pub companies, as well as pubs and restaurants, with its award‐winning ales.
“When I left the property sector and established Ilkley Brewery six years ago I had no idea it would be so successful in a relatively short space of time,” said Mr Ives.
“I am extremely proud to have established Ilkley Brewery, and to have strategically guided it in the right direction. It is great to be passing over the reins to Half Full Beer Co who I know will continue my philosophy of brewing great beer.”
The sellers were advised by Martin Frost at Lupton Fawcett Denison Till and corporate finance advice was provided by Paul Nolan at Glentrool Capital Partners. Tax advice was provided by Garbutt & Elliot.
Half Full Beer Co was advised by Ben Jackson at Bury & Walkers and corporate finance advice was provided by Andy Boyle at GBAC.
