Member Article

Angel investment of £300k for Bradford brewpub startup

A Bradford startup brewery has receieved £300k of angel investment to support growth plans and the development of its own ‘brewpub’.

The investment, which has been secured through Envestors North, will enable the brewery to launch from its own fully refurbished brewpub in Bradford city centre on Westgate and support its marketing drive to attract further expansion capital.

The investment follows a recent announcement of a new £50,000 loan facility agreed by Bradford-based loan provider Business Enterprise Fund.

Headed by managing director Matthew Halliday, Bradford Brewery has already negotiated with the property owners, Shaw Moisture Meters, who are contributing £200k into the refurbishment of the site.

The business will use the investment secured through Envestors to complete the property renovation, purchase their first brewplant, with a brewing capacity of 16,000 pints per week and bolster their cash balance for when they go live later this year.

Envestors North which incorporated Yorkshire Association of Business Angels (YABA) into the business last year, provides an introduction service for private equity investors, entrepreneurs and companies seeking finance, typically providing investment of between £300,000 to £1 million for younger companies and up to £10 million for more established businesses.

Matthew Halliday, said: “Bradford Brewery is a new business with big ambitions. We want to be as synonymous with the city as David Hockney, Bradford Bulls and Bradford City Football Club.

“This investment, coupled with our own funds and the recently approved loan facility from Business Enterprise Fund will allow us to enter the market from a very strong financial position. We’ll be working to make sure there’s a Bradford beer on the bar of every pub across the district.”

Barbara Greaves, manager of Envestors North (YABA) said; “ From his initial enquiry with us in late 2013, Matthew has tenaciously kept the investors informed as his plans progressed resulting in their commitment to invest in September 2014.Keeping them informed post investment will be equally as important“

Andrea Cropley and Natalie Hager at law firm Irwin Mitchell, advised Matthew Halliday at Bradford Brewery on the fundraising exercise with Envestors.

Andrea said: “Bradford Brewery is an extremely ambitious business with a very sensible business plan. It has identified a gap in the market and developed a strong proposition which has proved popular with the angel investment market.

“The business will have an income stream through its Brewpub, but it is looking to build its estate and also secure some lucrative contracts. It has already made progress with this and I look forward to seeing the business build on this and realise its ambitions.”

This was posted in Bdaily's Members' News section by Clare Burnett .