RSM advises Camden Town Brewery on sale to AB InBev

Camden Town Brewery has recently been acquired by Anheuser-Busch InBev in a deal reported to be worth more than £80 million. Through the acquisition, Camden Town Brewery has negotiated a second brewery as well as a means for international expansion based on quality, while Anheuser-Busch gains access to the craft beer market. RSM served as the financial advisor of Camden Town Brewery, support the firm in securing its desired sale price as well as the expansion terms.

Camden Town Brewery was founded in 2010 and is situated in Kentish Town, London. The business equity is 95% owned by Jasper Cuppaidge, his family and three best friends, with the rest held by crowd funders on the Crowdcube platform who brought in more than £2.7 million. The company sells a range of craft beer, including its Camden Hells Lager, Camden Pale Ale and Gentleman’s Wit brands, as well as selling its beer from its Brewery Bar. The company sold over 12 million pints of beer in 2015 and today employs circa 95 employees.

Late last year, Camden Town Brewery unveiled that it was to be acquired by international beer giant Anheuser-Busch InBev. The deal was inspired by Camden Town Brewery’s ambition to grow, with the addition of a brewery on the cards. For Anheuser-Busch, the deal provides it with a well reputed craft beer brand that allows it to better compete with the growth of independent brewers. Reports close to the transaction cite a deal value of more than £80 million.

Throughout the due diligence and transaction process, Camden Town Brewery was advised by corporate finance experts from RSM, UK’s sixth largest accounting and consulting network. The advisory firm lead negotiations with Anheuser-Busch, met the aspirations of the equity holders for the deal, sought a new managing director for the company as well as supported the negotiations to secure a site for the new brewery. The deal secured by RSM provides the company and its equity holders with “considerable value”, says Jasper Cuppaidge, founder of Camden Town Brewery, whilst terms include that a second brewery will be constructed from which more own distinctive beers will be produced.

Rob Donaldson, RSM’s Head of Corporate Finance, says: “I'm delighted that the RSM team has been able to help Jasper and Camden secure a fabulous partner in the form of AB InBev to support the business in its next stage of growth. It was vital to Jasper to strike the right deal that preserved the cultural integrity and independence of the business whilst securing the financial muscle to allow the team to achieve the potential to become the leading craft brewer in the UK.  The deal we’ve delivered achieves that and provides management with an excellent partner for the future.”

Reflecting on the ride, Cuppaidge says he wouldn’t have wanted to be on “this adventure without RSM”, adding “24 hours a day, 7 days a week RSM supported us the whole way!” He continues: “My aim was to create a strong deal whilst building an even stronger bond with our new partners, ABI. The RSM team delivered on this – achieving a fantastic exit for our shareholders whilst maintaining the balance with ABI. The way the team managed the deal and our expectations was nothing short of exceptional.”