Joint administrators to Purity Brewing Company and Pure Craft Bars, Mike Denny and Mark Firmin of professional services firm Alvarez & Marsal Europe LLP, announced the sale of the businesses to Breal Capital, saving all 60 jobs across both companies.
Purity is a Warwickshire-based brewery which brews and sells sustainably brewed beers to the on- and off-trade. It is the parent company of Purecraft, which operates as a bar and kitchen in Birmingham.
Over the years it has received backing from high-profile investors, including the Business Growth Fund (BGF).
“Like many operators in the hospitality sector, Purity Brewing and Purecraft have endured tough market conditions, says Denny.
“Most recently, the impact of significant cost inflation coupled with reduced discretionary spend has placed significant strain on the companies. We’re pleased to have preserved the future of both businesses and the Purity brand by delivering the sale to Breal Capital, safeguarding all 60 local jobs.”
The deal is the latest from Beal, which has made a number of investments into the hospitality and leisure sector during 2023. These include buying wine bar operator Vinoteca out of administration in August and the £60m purchase of restaurant group D&D London.
Last year Breal also purchased Yorkshire-based Black Sheep Brewery.
