Beer investor Keystone Brewing Group has made its third acquisition in the space of week, buying the brands of Leeds-based North Brewing Co.
Jobs remain safe at North's former Springwell brewery site, which has been under the control of the control of Kirkstall Brewery's Steve Holt since January last year when the neighbouring brewer rescued North from administration. Mr Holt will remain in position at Vertical Drinks - the company set up to save North in a £181,000 deal - but will advise Keystone.
Plans are also in place to invest in the Buslingthorpe Lane site, to make it a "state-of-the-art" contract brewing and packaging facility. It will continue to produce North beers alongside other brands.
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Mark Williams of Keystone Brewing Group, which also owns brands such as Black Sheep, Purity Brewing Co. and Big Drop, among others, said: “We are delighted the North Brewing brand, and beers will join the Keystone family. It is a true icon with a compelling reputation for innovation and high-quality beers, and we see enormous potential to build on its success to date, growing it nationally while preserving its original Yorkshire identity.
"We are also delighted to announce that Steve Holt will be working with us, as a special advisor to our group in future. These are exciting times for Keystone, and we’re not finished yet."
Steve Holt, of Vertical Drinks, said he was pleased to pass on ownership of the North brands to Keystone. He said: "They have the sales and marketing resources to expand distribution and accelerate the brand’s growth. I am also delighted that Springwell will continue to brew and package the North beers."
North Brewing Co was founded in 2015, following the launch of North Bar on Leeds' New Briggate Street in the mid-1990s, which was among the first in Yorkshire's craft beer scene. It has gone on to build a reputation for innovative beers including hazy IPAs and Triple Fruited Goses.
Keystone's acquisition of the brand comes hot on the heels of its purchase of the brands of Huddersfield's Magic Rock Brewing, which collapsed into administration this week. The investors also acquire the Fourpure brand.