Two rival British brewers, Charles Wells and Young’s announced today that they will be merging, effective October 2 of this year. The new company will be named Wells & Young’s Brewing Company Ltd. All operations will be moved to Charles Wells’ Bedfordshire brewery and the Wandsworth Ram Brewery will be closed.
|The Ram Brewery in Wandsworth (south London) is the oldest brewing site in England, having had a brewery at the location for over 400 years, since 1581, which was during the reign of Queen Elizabeth I. The Young’s family acquired the brewery in 1831 and have operated it there ever since.|
The BBC is reporting the closure will cost about ninety jobs and will leave London with only two brewing giants, Fuller’s and Anheuser-Busch.
Reports in This is Money, a UK financial site, and The Morning Advertiser, a website dedicated to licensee’s (pubs), both have additional details on the merger.
From the press release:
The company will be owned 40 per cent by Young’s and 60 per cent by Charles Wells, reflecting the assets being contributed by each shareholder, which for Charles Wells include the freehold land and production facilities of the Eagle Brewery.
Wells & Young’s will be operated as an independent company, at arms length from its two shareholders. Both Young’s and Charles Wells will continue to operate their pub estates independently of each other and both have entered into separate three-year rolling (five-year minimum) supply agreements with Wells & Young’s.
Paul Wells and John Young toast the merger of their two companies.