The Co-Operative Bank is to invest £1m of funding into Market Drayton-based Joule’s Brewery, as they plan to open a further six pubs this year and expand its brewery.
The funding, which was received two months ago, has already helped the brewer purchase three new pubs and will be invested in the further expansion as well as in expanding storage facilities at its brewery in Market Drayton.
Joules Brewery was re-opened in 2010 after closing its doors in 1974 having brewed its ale in Staffordshire since 1780. Managing Director Steve Nuttall then secured funding, again from the Co-Operative in 2010, to build a brand new brewery in Market Drayton. After re-opening, the brewery, which currently operates 17 pubs, started producing Joule's Pale Ale again, which had stopped with the brewery's closure in 1974. The company has since gone on to create two new brands, Joule's Blonde, a 3.8 per cent abv light beer and Slumbering Monk, a 4.5 per cent malt beer.
The company now aims to increase its growing number of Tap House public houses which now span Cheshire, Staffordshire, Shropshire, and Wales.