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Napthens advises on significant brewery financing deal

The corporate team at Napthens solicitors has advised the operators of Stoke-on-Trent-based Titanic Brewery on a refinancing deal which will enable the business to further develop the brand.

Titanic Brewery was founded in Burslem in 1985 and is owned by brothers Keith and David Bott who have grown the company to a market leader which produces more than 2.3million pints of ale each year.

The award-winning beers produced by Titanic are named after shipping history and include Steerage, Iceberg and White Star.

Titanic Brewery operates nine pubs across the North West including The Bulls Head in Stoke-on-Trent, The Greyhound in Newcastle-under-Lyme, The Cheshire Cheese in Buxton and latterly, a new pub in the portfolio, Ye Olde Kings Arms in Macclesfield.

Late last year the brewery announced plans to open 22 new pubs by 2020, focusing on Staffordshire, South Cheshire and Derbyshire. It has also unveiled upgraded facilities including its Titanic Sample Room.

A team from Napthens solicitors led by Corporate partner James Allison and including Corporate partner Richard Robinson, Corporate solicitor Sharon Harrison, Commercial Property partner David Hill and head of Leisure & Licensing Malcolm Ireland, has advised the company on the refinancing package.

The six-figure funding package was provided by Lloyds Bank Commercial Banking under the Government-backed Funding for Lending Scheme (FLS).

The funding will enable the brewery to work on rolling out new brands of beer, further develop plans to begin brewing its own lager and to refresh its pub estate portfolio.

James Allison of Napthens said: “The licensed trade has been hit by the same issues as any other sector in recent years and it’s great to see a brewery able to invest in its future in this way.

“Titanic Brewery has firmly established itself over the last 30 years as a producer of millions of pints of fine ale, and access to the funding package that Lloyds Bank has provided will mean Keith and David can continue to expand operations and put the company on the map as one of our finest brewers.

“It is important that the licensed trade is aware that in this sector there is support available which can assist breweries to deliver their development and expansion plans.”

James Todhunter, relationship director for Lloyds Bank Commercial Banking, said: “Titanic Brewery has proven that it is possible for firms to both thrive and expand even in highly competitive sectors like food and drink, and this deal will help lay a solid foundation for its future growth.

“There is a broad range of guidance and support we can offer to businesses to enable them to pursue their growth plans, and through the FLS we are able to offer a discount of one per cent for the life of the loan.”

Napthens Solicitors Employee James Allison