Backlash from pubs as Camden Town Brewery sold for estimated £85 million
PUBLISHED: 14:54 22 December 2015 | UPDATED: 14:58 22 December 2015
Camden Town Brewery has been accused of abandoning its artisan principles after agreeing to an estimated £85 million takeover deal by the world's largest drinks company.
The self-styled “craft” brewing company announced yesterday it would be bought by AB InBev, an international drinks conglomerate who own Budweiser, Stella Artois and Beck’s.
Founded by Jasper Cuppaidge in 2010, the brewery is currently based beneath the arches of Kentish Town West station, where its headquarters will remain although a new brewery will open in Enfield next year.
Neither side would reveal financial details of the deal, but the estimated the company’s estimated value is in the region of £85 million.
Yesterday’s announcement was immediately criticised by “real ale” purists, who took to Twitter to express their consternation in a Q&A with Mr Cuppaidge.
A tweeter from The Rose and Crown in Kentish Town asked what the brewery would say to small, independent craft ale pubs such as themselves, adding: “It goes against our ethos to sell any AB INBEV”.
Ben Marlow-Booth expressed his feelings very succinctly: “What’s the going rate for a soul these days?”
And James Watt, from BrewDog bar in Camden Town, tweeted: “We will no longer be selling any @Camden Brewery in our bars. We don’t stock @ABInBevNews beers.”
Camden Town Brewery said on its website: “This partnership is going to help us deliver our plans to grow. With AB InBev’s support we will expand our operations, create more jobs in London and continue to brew our great beer and get it to more drinkers.
“We are really excited about taking this opportunity to turn Camden, and the quality it stands for, from being an outstanding London brewer, to being a world famous one.”
Camden Town Brewery currently employs a team of 95 and has sold around 12 million pints so far this year, producing ales such as Camden Hells lager and Camden Pale Ale.
A recent equity crowdfunding campaign raised more than £2.75 milliion for Camden Town Brewery to grow the business..