The 134 year-old Suffolk brewery is sounding out prospective buyers and investors as the wider industry grapples with higher costs and weaker demand.
Adnams, one of the most historic names in British brewing, is to explore an outright sale amid a funding squeeze across the industry which has triggered a growing wave of insolvencies.
Adnams has begun contacting prospective investors and buyers after hiring advisers earlier this year to shore up its finances. A source close to the 134 year-old Suffolk brewery acknowledged that a full sale of the company was now an option, having indicated last month that it was not under consideration.
They insisted, however, that Adnams' preferred routes to raising capital remained a funding injection from a high net worth investor or family office. The sale of some of its freehold assets from its estate of pubs and inns would also be considered, they added.
The objective of the plan is said to be to raise capital to pay down bank debt and fund further growth initiatives. Advisers from Alvarez & Marsal are working with the company, which remains partly owned by members of its founding family.
Source: Sky News
