Brewer SA Brains & Co has confirmed its chief executive Jon Bridge is standing down. He will be succeeded at the helm of the business, which trades as Brains, from January by Nick Payne who has been appointed managing director.
In recent years the family-owned business, which dates back to 1882, has been significantly downsized, including a lease deal on the vast majority of its pubs (156) estate to Marston’s in December 2020.
It then sold the freehold interest in nearly 100 pubs to European investment firm, Song Capital. The investment had been put on the market with a £87.5m price tag. Its divestment strategy, which has addressed what was a significant debt position, started with the phased selling of its of highly profitable coffee chain business Coffee#1 to Caffe Nero starting with a deal for a 70% stake in 2019.
In its latest audited accounts to end of April, 2023, the business posted revenues of £9.3m. It has a workforce of around 30. Pre-Covid it was generating revenues of around £120m with a workforce of more than 2,000. The business has maintained its brewery operation in Cardiff Bay.
Mr Bridge’s career spans more than 30 years in the retail and hospitality sectors and prior to his appointment as Brains’ chief executive in 2021, he held roles as its operations director and director of people and culture. Before joining Brains, his senior roles including a 10 year stint with retailer House of Fraser.
On his time at Brains, Mr Bridge said: “It has been an incredible journey and privilege leading this iconic Welsh brand and working with such a talented team, both past and present.
“I am confident that I’m leaving the brewery in excellent financial health and with Nick taking the reins, it’s in a superb position to build for the future. I look forward to seeing Brains brewery and its beer brands expand and thrive.”
Richard Westwood, chair of SA Brain & Co, said: “Jon has been integral to the resurgence of Brains Brewery. His commercial acumen and strong strategic leadership have been paramount to the brewery’s continued success.
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"As an authentic, people-centric business leader, Jon is recognised for his integrity, transparency, and pragmatic approach. His unwavering ethical foundation has consistently impressed me. We extend our sincere gratitude for his dedication and invaluable contributions during his time with Brains.”
Mr Payne joins the company with more than 20 years of experience in the brewing and beverage industry. Most recently, he served as managing director at Cygnet Gin. Prior to this he held roles with Budweiser Budvar 海角视频, Brewdog and Marston’s.
In his new role he will oversee all aspects of the Brains operations, including brand, sales, marketing and further securing and developing the future of the brewer.
He said: "I am really excited to be joining Brains at such an important time in its journey. I have fond memories of stepping off the train as a child and smelling the hops, enjoying match day pints of SA with friends in Cardiff’s best pubs.
“Brains is an iconic beer brand, and I cannot wait to join the amazing team in January 2025.”