One of the best known names in Yorkshire brewing could be sold as it recovers from the ravages of the pandemic.
The Black Sheep Brewery in Masham is considering ways to raise more funding, and a sale is among the options.
Although its beer sales are still good, funding was still a problem given the current economic conditions, the company said.
It is undertaking a strategic review of its finances, which would consider “all options, one such option being a merger or an acquisition of the company, in whole or in part, if such a solution offers the best outcome for shareholders and other stakeholders whilst providing a stable base for the future of the business”.
Chief executive Charlene Lyons said: “We are pleased to have seen so many customers enjoying Black Sheep beers over the Easter bank holiday weekend, one of our busiest trading periods of the year.
“However, we believe that now is the right time to conduct this strategic review to secure the best outcome for our valued shareholders and other stakeholders.
“The brewery has exciting and ambitious plans for the future and interesting projects in the pipeline.
“Forward funding is an issue for many businesses in the tight market brought about by the after-effects of Covid-19 on the hospitality sector and this is exacerbated by the cost-of-living issues affecting consumer spending.
“We are confident that the wider investment market will see the opportunities presented by this well-established and highly regarded brand.”
Black Sheep is not in talks with potential buyers at the moment, it says.
Founded by Paul Theakston of the famous brewing family in 1991, it became a public limited company the following year.