Licensees at Gales pubs in the South East were shocked to find the Hampshire-based brewer had been taken over by Fuller's. The £91.8m deal was announced to the Stock Exchange last Tuesday, and with the Gales board backing the takeover, shareholder approval will be a formality.
Tenant Sarah Edon of the Old House at Home in Romsey, Hampshire, said she was shocked to hear the news from her accountant, but relieved that Gales, which owns 111 pubs, had been sold to a family brewer rather than one of the major regional players.
"I used to work for Fuller's and I'm quite optimistic about what it could mean for the pubs," she said. "It's just a shame that the brewery could be closed down."
Nathan Clark, tenant of the Pointer in Sandown, Isle of Wight, received a letter from Gales informing him of the sale. He said: "It was a complete shock. We had no inkling whatsoever."
The Campaign for Real Ale (CAMRA) has pledged to fight to prevent the closure of Gales' brewery in Horndean. Mike Benner, CAMRA's chief executive, said: "The announcement by Fuller's makes no promises to keep the Horndean brewery open and it is clearly under threat. We will campaign to protect this unique Victorian tower brewery from closure."
The brewery has a maximum brewing capacity of 50,000 barrels, meaning its output could be accommodated at Fuller's 260,000-barrel Chiswick site without causing too many production headaches.
Related articles:
Fuller's agrees £91m deal for George Gale (8 November 2005)
CAMRA vows to fight to protect Gales' brewery (8 November 2005)