An independent brewery has secured £7.5 million in new investment to expand its domestic and international sales.
Purity Brewery Co. has agreed an equity deal with private funder BGF to support its organic growth strategy.
The brewery was founded in 2005 by Paul Halsey and James Minkin with the aiming of making “great beers with a conscience” and now produces brands such as Pure Gold and Mad Goose from its base in Great Alne, Warwickshire.
It promotes its green credentials and strives to brew beer sustainably, using heat-and-steam technology to reduce energy consumption while a natural ‘wetland’ system cleanses the waste water and spent hops are re-used as fertiliser on the local farm.
Purity has built up a national network of customers and a quarter of its sales go to Midlands-based independent, free trade pubs.
This new round of investment from BGF will be used to support Purity’s plans to expand across the UK, grow export sales and develop new products.
Mr 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 who know the secret to making great beer with real character and our new partnership with BGF will allow us to access their expertise in helping businesses like ours to scale as well as their extensive network.”
The founders will continue to lead the business and be supported by BGF regional director Paul Oldham as a board member and experienced industry veteran Simon Brown as non-executive chairman.
Mr Brown has spent 25 years in the drinks sector with names such as Scottish and Newcastle and Heineken.
Mr Oldham 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.
Advisers working on the deal were PwC, Higgs and Sons, Spencer Gardner Dickins, Gateley and Claritas.