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Tue 28th Aug 2018 - BGF makes £7.5m investment in Purity Brewing Co
BGF makes £7.5m investment in Purity Brewing Co: Purity Brewing Co, one of the UK’s largest independent breweries, has received a £7.5m investment from the Business Growth Fund (BGF) to support its organic growth strategy. Founded in 2005 by Paul Halsey and Jim Minkin to brew “great beers with a conscience”, Purity makes high-quality beers from its brewery in Great Alne, Warwickshire. The business had a turnover of £8,886,038 in the year to 31 August 2017 and made a profit before tax of £710,573. It was named as The Good Pub Guide’s Brewery of the Year in 2018 and produces a range of international award-winning beers including Pure Gold, Pure UBU, Mad Goose, Lawless Lager and Longhorn IPA. With a commitment to brewing beer sustainably, Purity uses the latest heat-and-steam technology to reduce energy consumption at its 90,000 hectolitres brewery. A natural “wetland” system cleanses the waste water and the spent hops are used as fertiliser on the local farm. While many craft breweries focus on their local region, Purity has successfully built a national network of customers – with a quarter of sales going to Midlands-based independent free trade pubs. BGF’s investment will be used to support Purity’s plans to expand across the UK, grow export sales, and to develop new products. Halsey and Minkin will continue to lead the business, supported by Simon Brown as non-executive chairman. Brown has a wealth of experience in the drinks sector having spent 25 years with Grand Metropolitan and Scottish and Newcastle and latterly in joint ventures with Heineken UK and C&C. Halsey said: “We’ve made big strides for a growing company. Our vision has always been to create brilliant brands, value our people and put sustainability at the heart of everything we do, and we’re delighted to have the support of BGF to help us take our offering to the next level. We have an amazing team that knows the secret to making great beer with real character, and our new partnership with BGF will allow us to access its expertise in helping businesses like ours to scale, as well as its extensive network.” BGF’s Paul Oldham, who will join the board of Purity, added: “Purity has grown by attracting consumers who are increasingly looking for premium, innovative alternatives to the traditional ale brands. It’s an established and well-respected brand with fantastic products, and we’re excited to be able to help the team scale further.” The investment in Purity was led by Gurinder Sunner, Joanne Smith, Chris Nixon and Olly Cutting who are based in BGF’s Birmingham office. BGF, the UK’s most active investor of patient capital to help businesses grow, has made a number of investments in the food and drink sector including Renegade Spirits and Mission Mars – the operators of Manchester’s Albert’s Schloss and Rudy’s Neapolitan Pizza. BGF makes long-term investments for a minority, non-controlling stake in the businesses it backs. Initial investments are typically between £1m to £10m followed by significant follow-on funding as required. 

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