Consolidated Craft Breweries acquires first bar unit
THE company behind Keith Brewery is set to open its first pub after acquiring the leasehold to the Foxy Fiddler Bar & Kitchen in Edinburgh.
The venue, on the city’s Morrison Street, is set across the ground and basement levels of the building and is said to benefit from its “highly visible trading location” in the centre of the capital.
Marketed on behalf of owner City Bars Limited by Cornerstone Business Agents on a confidential basis, the unit was taken on by the recently-formed firm behind Keith Brewery.
As previously reported in SLTN (January 24), Keith Brewery’s new parent firm, Consolidated Craft Breweries (CCB), has major growth plans, including a move into pubs.
Tony Schofield, the group’s new CEO, told SLTN at the time that the goal with operating their own bars is clear.
“We want to give something that’s simple, affordable, and good value for people,” said Schofield.
“We’re trying to offer a craft beer experience, but we don’t want to alienate anybody; not everyone likes craft beer.”
The expansion follows a major cash injection from Dundee-based Discovery Investment Fund – a privately-funded venture capital business – into CCB.
The funding has already enabled the group to complete a spate of acquisitions, including Spey Valley Brewery, drinks distributor Firkin Express and Alechemy Brewing.
Cornerstone was marketing the leasehold to the bar at £150,000; the final price was not disclosed. It has an annual rent of £45,000 per annum.