Ilkley Brewery bought by Leeds beer company

Half Full Beer Co, which was founded by former Ilkley manager Luke Raven, bought the £1.6m-turnover brewer for an undisclosed sum.

Ilkley Brewery director Richard Shelton will remain in post to ensure continuity at the business, which sells 22 keg, cask and bottled beers across the UK and internationally.

The investment in the company will double brewing capacity at Ilkley within two years, as well as creating new jobs.

Ilkley co-founder Chris Ives will exit the business as a result of the buyout.

Mr Raven, managing director at Half Full, spent almost four years at Ilkley before leaving in March to start the new venture.

While the company initially planned to launch a rival brewery, it will focus on growing its established beer brand.

Mr Raven told The Yorkshire Post that investment in Ilkley will be prioritised over the planned brewery launch.

He said: “The more we’ve looked at the project here, the more excited we’ve been about the potential here for Ilkley Brewery.

“It’s grown massively in the last few years. We’re really confident and keen to grow it even more.”

The deal came about after Mr Shelton contacted Mr Raven about a possible sale soon after Half Full was founded.

Mr Raven said: “I was approached almost straight away by Richard Shelton who informed me the investors at Ilkley Brewery might be looking to sell their share and would that be something I’d be interested in.

“The Half Full ethos has been to see what opportunities there are and to work with the industry across lots of different levels. It seemed like the perfect opportunity to work with a brand we already knew lots about.”

Ilkley currently produces 45,000 pints per week but is struggling to meet high demand, he said.

He said: “The brewery has been operating at full capacity for some time now.

“Our plans are to immediately increase production; we’ll be ordering new brewing kits very soon to increase capacity on the existing site and we’ll also start looking for an additional site to help ease the pressure.”

Half Full plans to add around five positions at Ilkley in the short-term, with more extensive recruitment planned for the second site, he added.

Ilkley Brewery was founded in 2009 by Mr Ives and Stewart Ross. Co-founder Mr Ross subsequently left in 2012, moving to nearby Wharfedale Brewery.

Mr Ives said he was “extremely proud” to have built Ilkley to its current position.

He said: “When I left the property sector and established Ilkley Brewery six years ago I had no idea it would be so successful in a relatively short space of time.

“It is great to be passing over the reins to Half Full Beer Co who I know will continue my philosophy of brewing great beer.”

In 2011, Ilkley struck a debt-and-equity deal with Glentrool Capital Partners, allowing it to move site and almost quadruple output from 6,000 to 23,000 pints per week.

Paul Nolan from Glentrool Capital Partners said: “Our investment in Ilkley Brewery has been very successful, having generated upper‐quartile returns, resulting in its performance attracting a number of suitors.

“However we are delighted to have completed the deal with the team at Half Full Beer Co who are passionate about the business and recognise the potential growth of the company.”

The brewery underwent a rebrand in 2012 and began exporting its products to the US and China.

Its customers include Morrisons, Sainsbury’s, Asda and Booths, as well as pub companies throughout the UK.

Martin Frost at Lupton Fawcett Denison Till, Mr Nolan at Glentrool Capital Partners and Garbutt & Elliot advised the sellers on the deal, while Half Full Beer Co was advised by Ben Jackson at Bury & Walkers and Andy Boyle at GBAC.