Breal Capital has emerged as the leading contender to acquire Black Sheep Brewery, only days after the Yorkshire business announced it intended to appointment administrators after failing to attract new investment, it has been reported.
The company, which employs 50 people and runs four pubs, said it had been “hit very hard” by the pandemic and rising costs.
In April Black Sheep said was undertaking a review to look at funding options, including a potential sale or merger.
The board said the decision to appoint Teneo Financial Advisory would protect the interests of its creditors.
Industry sources have since told Sky News that Breal Capital, part of Breal Group, is in talks to acquire the business, with other bidders also in contention.
Advisers to The Black Sheep Brewery had asked interested parties to table offers by last Friday, just a few days after it filed a notice of intention to appoint administrators.
Charlene Lyons, Black Sheep Brewery’s chief executive, said this week that the company remained hopeful of finding a saviour.
She said it had experienced a “perfect storm” of cost increases, but that “the team were confident that with a new structure Black Sheep will thrive and grow as the team set course in a new direction”.
