We are delighted to have advised Woodfordes Limited on their sale to Citra Partners.
Woodforde's is the largest independent brewer of cask ales in Norfolk, producing 20,000 barrels of premium beer each year served mainly across Norfolk and East Anglia.
The Company is well established in the community with a reputation for quality beer amongst Norfolk's real ale connoisseurs, and is one of only a handful of brewers in the UK to have been awarded two 'Champion Beer of Britain' accolades.
Owned by real ale enthusiasts for the last 17 years, the business has now grown to become one of Norfolk's most recognisable brands.
Following a decision to retire from the business, the shareholders approached us to advise them on selling the Company.
Citra Partners were identified as the best fit to help Woodforde's evolve and grow whilst protecting the brand values built up over many years.
The deal allows the two majority shareholders to retire from the business and sees Rupert Farquharson remain as Managing Director.
The incoming team plan to invest heavily in the business to drive further growth, developing new product ranges and expanding the Company's reach.
We ran a full sale process, generating interest in the Company. Following conversations with a number of interested parties, a deal was agreed with the Citra team which provided the best all round solution.
We provided Corporate Finance Advisory services to the shareholders of Woodforde's. The team supported them through the various financial and commercial aspects of the deal.
Darren Bear, Corporate Finance Advisory Partner, commented: "This transaction is a great result for all involved. It was good to work with one of Norfolk's most recognised brands and ensure the business found the right home to maintain its heritage whilst meeting the shareholders' objectives."
Grant Thornton did an excellent job and were highly supportive throughout the process. We have managed to protect the values of the business going forward and are excited to enter into a new phase. Grant Thornton played a big part in helping us achieve our objectives. I would certainly recommend them.Rupert Farquharson Managing Director, Woodforde's Limited