Wells & Young's snaps up Courage rights
Wells & Young's Brewing Company (W&YBC) has bought the rights for the production, marketing and sales of the Courage portfolio of ale brands from Scottish & Newcastle UK.
A new joint venture business will be formed, Courage Brands Ltd, in which W&YBC will take an 83% equity stake.
The Courage brands include Courage Best, Courage Directors, Courage Dark Mild and Courage Light Ale.
The Courage name, which we are committed to retaining, underpins all that is great about our industry Nigel McNally, managing director of W&YBC
The deal will see over 100,000 barrels of production transfer from Tadcaster to Bedford, taking the Bedford brewery to around maximum capacity at 580,000 barrels. Nigel McNally, managing director of W&YBC said: "Scottish & Newcastle has not done anything with the Courage brand for some time but it is still a very stable brand. These Courage beers are iconic within the brewing heritage of this country.
"The Courage name, which we are committed to retaining, underpins all that is great about our industry.
"We now have the best portfolio of cask ales in the country full production - ten years ago two-thirds of what we brewed here was own label lager."
John Dunsmore, managing director of S&NUK, said: "The Courage brands are an excellent fit with W&YBC's existing specialist beer portfolio.
"Our sale of the Theakston brands back to family members in 2002, has proved that this type of innovative deal structuring can be beneficial for both parties and for the development of niche brands."
S&N will retain a 17% stake in the new holding company and will continue to sell and distribute Courage brands throughout its direct regional on-trade business.
