Member Article

Camerons Brewery crafts 40 pub acquisition plans with £30m finance package

Hartlepool-based Camerons Brewery has landed a £30 million funding package from HSBC to fuel the growth of its pub retail estate.

The firm, which manages the popular North East Head of Steam pub brand, has announced it will acquire 40 new pubs with the money, meaning it will will have a total of 110 pubs in its retail group across the North of England.

The HSBC package will back the brewery’s plans to release six new lines of beer, continue its major investment in the Brewhouse, and develop its Teesside bottling plant. As a result, Camerons will create six new jobs over the next 12 months.

The finance package, completed with advisors Grant Thornton, Eversheds and Watson Burton, was drawn from HSBC’s £8 billion SME fund which dedicates £150m to the Tyne Tees region.

This forms Camerons’ commitment to a staff training programme that will place one beer sommelier in each of its Head of Steam pubs.

John Foots, Camerons Brewery Finance Director, said: “There are only 107 official beer sommeliers worldwide so to have a significant proportion of the world’s total in our Northern pubs is a fantastic thought.

“Camerons is a pub group that is ambitious and innovative. We are grateful to HSBC for supporting us as we continue to grow. Not only did Tony Leech and Andy Parker support our investment in infrastructure and expansion, they understood our thinking.”

Tony Leech, HSBC Area Director for Corporate Banking in the North East, said: “The deal was led by HSBC’s Andy Parker who completed the transaction quickly and efficiently to help Camerons implement their growth strategy as soon as possible.

“Camerons has reported a 14 per cent increase in profit for 2015 and firmly have their sights set on further growth. They are a great example of an SME which is thriving in the North East, and we look forward to supporting the growth of their estates in the future.”