Daily News: June 20, 2018

HSBC Provides $19.768MM Revolver to St Austell Brewery


HSBC provided a £15 million ($19.768 million) revolving credit facility to help support St Austell Brewery‘s ambitious acquisition strategy and grow the company’s pub estate.

The funding also will be used to increase investment over the next few years through new strategic pub and hotel acquisitions.

Colin Stratton, finance director and company secretary at St Austell Brewery, said, “We’re always looking at ways to grow and improve our estate. We have a very carefully considered acquisition strategy so were impressed when HSBC took a similarly strategic approach to our funding requirements. We’re delighted to be working with our relationship director in Cornwall Martin Rowe, and look forward to drawing on the funding when the right opportunities arise.”

James Jordan, HSBC’s head of Corporate Banking, South West, added, “St Austell Brewery is synonymous with Cornwall and the South West, which is a region HSBC has also had a presence in for many years. So we are thrilled to be added to the brewery’s banking roster and look forward to helping the company pursue its acquisition plans.”

Founded in 1851 and headquartered in the UK, St Austell Brewery remains a fully independent and family-owned business which employs more than 1,500 full and part-time employees.