Jarrow Brewery raises glass to Reward Capital as it toasts expansion
YORKSHIRE lender Reward Capital has helped a successful family-owned brewery to open a new £500,000 facility after filling a vital funding gap.
The £80,000 funding line from Leeds-based Reward Capital had been vital for Jarrow Brewery, which has opened a 5,000 sq ft, 40 barrel plant.
The move will create five new jobs at the £2m turnover company, with a further 10 predicted over the next three years.
It will also increase the brewery’s capability to sell its range in Yorkshire.
The facility will have the capacity to produce 72,000 pints a week – five times more than the brewery has been able to manufacture previously.
Established and owned by husband and wife team Jess and Alison McConnell since 2002, Jarrow Brewery, which presently employs 60 people, also operates four successful pubs in the North East of England.
Its popular range of ales include Jarrow Bitter, Rivet Catcher, Venerable Bede and McConnell’s Irish Stout. Mr McConnell said Jarrow Brewery is now planning to launch internationally and increase its bottling operation.
The business, which has opened the facility on the Bede Industrial Estate in Jarrow, Tyne & Wear, has also secured £140,000 through the Government-backed Regional Growth Fund to expand its operations and create local jobs.
Mr McConnell, whose children Janine, 33, Mikaela, 25, and Lewis, 26, all work for the brewery, said: “Our beers have an excellent reputation and a loyal band of followers so we’re in an excellent position to aggressively extend our brand and increase our turnover.”
He said that Jarrow Brewery, which has received private investment to open the new facility, was looking to launch a share issue to raise further funds.
Dave Jones, partner at Reward, said: “Jarrow Brewery is a fast-growing family-owned business but it needed Reward’s help to make its new brewing facility a reality.
“We were absolutely delighted to help Jess and his family make this investment which will help the company continue its expansion.”
Commenting on Reward’s involvement, Mr McConnell added: “Reward’s funding has been vital to progress the brewery as we awaited the investment funds to be approved.
“This new facility makes Jarrow Brewery the largest independent brewer on Tyneside by size of plant and advanced sales.”
