CAMRA tells McMullen's to 'keep on brewing'
Real ale consumer group Camra has thrown its weight behind a campaign to keep brewer McMullen's making beer for the foreseeable future.
The company, which recently unveiled profits up 28 per cent, is undertaking a review of all its operations. Camra fears it will follow a number of regional brewers by exiting brewing to focus on pub retailing.
A statement issued by Camra last week read: "Camra's message to the Board is simple. Keep on brewing and the profits will keep coming in. Don't kill the Golden Goose" for a small short-term gain. We hope to see the Hertford Brewery continue well into the future."
But the company appears in rude health, doubling profits in the last five years to £9.1m.
However, it is understood that some shareholders and members of the McMullen family want to sell stakes. Others, thought to include chairman David McMullen, wish to run the company as a going concern.
The business is thought to be worth at least £200m, including £65m for the brewery site and other property assets. Camra fears the family will sell off these assets, providing some members with an exit, and retain the more profitable pubs arm.
"We're not expecting to change the world or the minds of those shareholders who want to cash in," said Camra spokesman Mike Benner. "But the fact is they have announced profits up 28 per cent from a combination of brewing beer and running pubs and that has to be a good thing."
"We know there is work going on to keep the company going."
The estate of 99 managed pubs and 39 tenancies is spread across the South East. Its most popular ale is AK (3.8 per cent ABV). It is currently rolling out a style bar brand called Baroosh.
McMullen's is expected to complete its review by the summer.
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