Jobs saved as Yorkshire's Black Sheep Brewery sold to London investors

Yorkshire's Black Sheep Brewery has been sold following speculation about its future.

The Masham brewer and pub operator called in administrators on 2 May after struggling with rising costs and the impact of the pandemic.

It has now been acquired by London-based investment firm Breal Capital and will continue to trade under the same name.

Law firm Freeths, which advised Breal on the sale, said the deal included the brewery, its four pubs, and shop and visitor centre.

Freeths said the deal would "secure significant local employment and the family-run businesses' future growth".

A spokesperson for Black Sheep Brewery said: "This marks the next chapter in the history of Black Sheep as we look to grow the business in a sustainable way.

"Our team will continue to produce great beers from our landmark brewery in Masham, North Yorkshire and we also look forward to welcoming customers and tourists to all our retail sites.

"Breal has a proven track record of successfully transforming and growing the businesses it acquires through the private capital, operational resources, and strategic expertise it brings and we look forward to working closely with the team."

Black Sheep Brewery was founded in 1992 by Paul Theakston and employs around 150 people.

It acquired York Brewery and four pubs from Mitchell's of Lancaster out of administration in 2018. The pubs include the Last Drop Inn, the Tap Room and the Three Legged Mare in York, as well as Mr Foley's Tap House in Leeds.