Michelmores’ banking team has acted for St Austell Brewery in connection with the renewal of its funding arrangements. The deal included facilities from three lenders and secures significant working capital to meet the business’ requirements for the next three years.
St Austell Brewery is an independent, family business with a long pedigree in Cornwall and the wider South West region. In addition to its brewing activities, it owns more than 180 pubs, hotels and restaurants and supplies its products to retailers and licensed premises throughout the country and internationally.
Senior Associate Anna Thompson advised St Austell Brewery. Anna has previously advised St Austell Brewery on a number of occasions.
Colin Stratton, Finance Director of St Austell Brewery said:
“We are delighted to have successfully concluded this deal which secures our working capital requirements for the short to medium term. As many businesses in the hospitality and leisure sectors face increasing uncertainty as a result of the impact of COVID-19, and the consequences for the wider economy, we look with confidence to our plans for the future of the business in the South West region.“
Anna Thompson commented:
“Having worked with Colin and the team at St Austell Brewery before on several occasions, I was delighted once again to be working with them. This deal will ensure that the business can continue to build on its strong track record and commitment to the South West region.“
Anna and the rest of the banking team at Michelmores advise a wide range of borrowers and lenders in connection with their ongoing funding requirements.