Leeds-based brewer and bar chain North Brewing Co secures £375,000 funding as business grows internationally

The Leeds-based business started its life as North Bar on New Briggate, which was founded in 1997 by John Gyngell and Christian Townsley.

After opening several more bars, the pair established North Brewing Co in 2015. North now operates 10 bars across Yorkshire, Birmingham and Manchester and produces around 20,000 hectolitres of beer every year which is sold into supermarkets, restaurants, and bars all over the world.

A spokesman said: “As the business continues to grow and supply an ever-increasing number of domestic and international customers, the new funding line from BFS will allow North’s co-founders to manage cashflow, so they can focus on planning ahead and growing the business.

“To facilitate the transaction, the business was introduced to BFS’s commercial team by Conor Smyth at TFS Finance Ltd. BFS’s Yorkshire-based deal-team – led by Ian Hayes – structured a Confidential Invoice Discounting funding facility worth £375,000.”

John Gyngell, director and co-founder of North Brewing Co, said: “We’re so proud of where our business is today, in large part thanks to our great staff and a lot of love from our customers and community. But, as a business owner, cashflow is a daily concern, especially over the past 12 months.

“It’s been a really tough year for the brewing industry, due to a combination of challenges, such as the rising cost of grain, energy, shipping, and the impact of Brexit on international business operations.

“In order to grow the business, we need to be able to focus on the future, rather than just respond to the day to day. BFS’s funding and support gives us the breathing space to concentrate on what we’re best at, plan ahead for business growth over the next few years and have more time to enjoy the day job.”

North has been growing its business and operations in recent years. In 2020, the business signed a lease for a larger, 21,000 sq ft former Victorian tannery in Springwell, Leeds, which it converted into a modern brewery, taproom and workspace during the pandemic. It now serves as the company’s headquarters.

Conor Smyth, senior funding partner at TFS Finance, said: “North Brewing Co has seen huge success over the past 26 years in its local bars and brewing operations, and is also seeing growing national and international demand. This has made managing cashflow a much bigger task.

“The BFS team were great partners to work with, as they demonstrated their ability to tap into the business’s needs and deliver a suitable funding line in just a couple of weeks.”

Ian Hayes, business development manager at BFS, added: “It’s been a pleasure to work with North Brewing Co and TFS Finance to provide this funding line.”​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​