Young’s in search for pubs to buy

Young & Co’s, the London brewery, is on the hunt for more pubs. It currently has 216 but wants to add to its portfolio according to Stephen Goodyear, the group’s chief executive.

Mr Goodyear said there is a shortage of good pubs but what is available is at the lower end of the market.

Like many brewers, Young’s has been affected by an almost doubling in the cost of ingredients like hops and barley but Mr Goodyear is firm that these costs are not being passed on to customers.

Young’s is Britain’s oldest brewer and dates back to the 1500s. The brewer has had a close relationship with London but this was harmed after the group closed its Ram Brewery in Wandsworth last year. This resulted in many punters threatening to boycott pubs. The group now brews its beers through its jointly owned brewing operations with Charles Wells, located at the Eagle Brewery in Bedford.

Young’s recently reported profits up £11 million for the half year to 30 September – an increase of nearly 90%, suggesting that customers’ confidence has returned. Sales grew 12% to £64 million.

Young’s & Co is still an independent family owned brewer and holds a 40% stake in its co-owned Wells & Young’s.

Story link: Young’s in search for pubs to buy