Fuller’s exits brewery trade with £250m sale

Fuller’s has sold its brewery business to the European arm of Japanese brewer Asahi as it shifts its focus to its upmarket pub and hotel businesses.

It was sold for £250m on a debt-free, cash-free basis and comprises the entirety of Fuller’s beer, cider and soft drinks brewing and production, wine wholesaling, as well as the distribution. It also includes the Griffin Brewery, Cornish Orchards, Dark Star Brewing and Nectar Imports.

This sale marks the end of Fuller’s nearly 175 year history in the brewery industry.

Simon Emeny, chief executive of Fuller’s, said: “This deal secures the future of both parts of our business including protecting the heritage of the Griffin Brewery in Chiswick, which was particularly important to the Fuller’s board. We remain incredibly proud of the Fuller’s Beer Business, its history and the high quality premium beer and cider portfolio that we have developed.

“Brewing has formed an integral part of our history and brand identity, however the core of Fuller’s and the driver of our future growth is now our premium pubs and hotels business.”

Akiyoshi Koji, CEO of Asahi Group Holdings, added: “We have long admired the brewing business and exceptional beer brands that Fuller’s has built over the years and the high degree of respect it commands throughout the global beer industry. Fuller’s is one of the few brewers that show the same genuine commitment to brewing excellence and quality that we do.

“We strongly believe that the brands of the Beer Business, including London Pride, Frontier and Cornish Orchards among others, complement our premium portfolio in the UK market. In particular, London Pride is a fantastic brand with an illustrious heritage dating back to the 1950s and we are excited about its untapped international potential which Asahi has the scale and global network to unlock.”