Paramount Retail Group has acquired the Keystone Brewing Group brand portfolio in the UK through its Saltaire Brewery unit.
Paramount said that Keystone’s Black Sheep, Fourpure and Purity brands will continue to be brewed, supplied and supported “as part of Saltaire’s expanding brewing platform”. The retail conglomerate, which also owns confectionery and pet-care brands, said its focus will be on “protecting what makes each brand distinctive, maintaining brewing standards, safeguarding employment, investing in production capability and supporting the trade for the long term”.
Saltaire Brewery director Ravi Sharmer said the transaction, financial details of which were not disclosed, was “not about financial engineering or consolidation”, but more about “restoring confidence, rebuilding relationships, and ensuring that proud British brewing businesses continue to exist, employ people and serve their communities for generations to come”.
This week’s announcement follows a tumultuous period for Keystone, which reportedly filed a notice of intention to appoint administrators in November following pressure from several trade creditors.
Previously known as Breal, Keystone employs around 190 people across multiple UK sites. The Black Sheep business entered administration in 2023 before being acquired by its current owners.
In June last year, Keystone received a GBP2m (US$2.7m) injection from shareholders at Breal, setting a target of doubling its sales over the next 12 months, having hit GBP14.5m in the year to the end of March 2024.
