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The future is bright: minoriy venture capitalist stake protects Purity's independent future

 

 

Purity Brewing gains £7.5m in venture capital backing

Warwickshire’s Purity Brewing has secured a £7.5 million investment from venture capitalist BGF to support its expansion across the UK and into export markets.

BGF, which also backs a number of restaurant chains, pubcos Coaching Inn Group and Wear Inns and drinks company Renegade Spirits, will take a minority stake in the business. It will advise on strategy, taking a non-executive seat on the board.

Purity founder and managing director Paul Halsey said the deal guaranteed the brewer’s continuing independence while giving it access to BGF’s networks and expertise.

The investment will fund a plan to give Purity national distribution, launch an export drive onto the continent and beyond, develop new products and expand the workforce.

Halsey hopes to increase capacity at the brewery, currently 90,000 hectolitres, by 50% with the purchase of more fermenters, while a 50-litre pilot plant has been installed to experiment with additions to the beer range.

“We’ve made big strides for a growing company,” commented Halsey, who formed the business with Jim Minkin in 2005. “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.”

BGF investor director Paul Oldham, who will join the board of Purity in a non-executive role, said the company had grown “by attracting consumers who are increasingly looking for premium, innovative alternatives to the traditional ale brands”.

He added, “Purity is an established and well-respected brand with fantastic products, and we’re excited to be able to help the team scale further.”

Phil Mellows
29th August 2018

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