Tyneside real ale brewer The Great North Eastern Brewing Company is set for growth on the back of a £100,000 investment.
The Gateshead business was launched in 2015 to brew and sell real ale by the cask or keg to pubs, clubs and hotels in the North East and further afield. The company also sells direct to customers through its brewery shop in Dunston and through its website.
Now the company has sealed a six-figure deal from the Business Enterprise Fund (BEF), the latest in a series of investments from the organisation to help it expand. The business is led by Paul Minnikin, a sole director and 100% shareholder who employs a team of seven who deliver over 6,000 litres of ale a week to over 400 customers – a far cry from when the business launched thanks to a start up loan delivered by Doug Heseltine, an investment manager at BEF.
Read more: Bottlepay to close down app, two years after Newcastle fintech firm's acquisition
The initial loan gave Mr Minnikin the working capital he needed to fulfil his ambition to build a business in the brewing industry, and it was followed by further loans to support the purchase of bottling and canning machinery, allowing The Great North Eastern Brewing Company to venture into new markets.
Additional support helped the business during the pandemic as it responded to serving the hospitality sector, helping to protect jobs while it generated revenue through other means.
The Great North Eastern Brewing is now set for growth in the volume supply market thanks to the £100,000 investment, allowing it to create new jobs and expand sales to hospitality businesses based in Edinburgh, York, and the Lake District. It has also recently added a high street pub chain to the list of firms it supplies, and it will also now offer canning, kegging, and bottling services to other local breweries.
Mr Minnikin, said: “I have dealt with Doug Heseltine for seven years now and would like to say that this business would not be at the stage it is without his help and the help of BEF hopefully the business will continue to grow so credit is due to you.”
Doug Heseltine, senior investment manager at BEF, said: “BEF enjoy a longstanding relationship with Paul and The Great North Eastern Brewing Company. It is extremely pleasing to see one of my first ever clients still doing well. Every time I catch up with Paul, he has always exceeded what he intended with the latest round of funding. I wish him continued growth and success.”
Sign up to receive regular North East business news emails HERE
READ NEXT
- Newcastle nightclub and pub The Lofts and The Hustle shut down
- Turntide Technologies named as preferred supplier for Hitachi intercity battery train trial
- North East deals of the week: key acquisitions, contracts and investments
-
Read more North East business news here
- Staff numbers shrink at loss-making Royal IHC in 'disappointing' year
