E-Malt.com News article: 1551

Scottish Courage, the UK’s leading brewer, announced on September 10 that it is in advanced negotiations with members of the Theakston family to return the company, including the brewery and all associated ale brands, to their control. It is expected that these discussions will be finalised in a few weeks time and this will enable T &R Theakston to, once again, become an independent and family controlled business. The new business will be led by Simon Theakston - who will be joined by his three brothers, Nick, Tim and Edward – and also by Collin Wood, a former executive from Scottish Courage who previously served as Managing Director of T&R Theakston.

Returning the company to family control will enable the new management team to further develop the business and the excellent Theakston range of traditional ales, from their headquarters in ancient North Yorkshire market town of Masham. Employees at the brewery have been briefed on the proposals and will be consulted on their views before the sale is finalised. If successful, there will be no impact on jobs in the brewery and existing employees will transfer to the new business.

The strong links between Scottish Courage and T&R Theakston the will be maintained, as Scottish Courage will retain a small but significant minority shareholding in the new T&R Theakston Ltd. Scottish Courage will also continue to distribute the Theakston brands on behalf of the new company. It s hoped that negotiations to complete the sale will be concluded in 2-3 weeks and that the new owners will assume control of the T&R Theakston business in early October 2003.


12 September, 2003