Shropshire based brewer and retailer Joule’s has negotiated a new £4m debt facility with Natwest that will allow the company to continue its expansion plans in both its pub estate and beer production.
The new arrangement delivers £1.2m of additional funds that will be free for investment.
The new debt comes after the appointment of former 3i partner Mark Heappey as company chairman. He said: “I was delighted to have been invited to chair this dynamic business that is committed to quality in its pubs and of course the beer. The craft beer sector is an exciting place to be as the pub business starts to move to a cycle of greater specialism – Joules looks to be to be a likely winner in this.”
Joule's are however still doing well this year, opening their fifth site since Easter in September and standing by their plans to purchase nine new pubs within a 40-minute drive of its brewery in Great Hales Street, Markey Drayton. Joules now has 18 Tap Houses across Shropshire, Staffordshire and Cheshire.