Theakston family seals Scot-Co deal
The Theakston family has taken back control of T&R Theakston from Scottish & Newcastle.
The Masham-based brewer - best known for beers like Old Peculier - has now been acquired by heirs of the original founder, Robert Theakston who set up the brewery in 1827.
The family, which has been in discussions with Scottish Courage for six weeks, completed negotiations yesterday.
Simon Theakston is joined by his three brothers on the board of the "new company".
They include Nick Theakston, a specialist in corporate finance who played a major role in negotiating the buyback from Scot-Co; Tim Theakston, a property specialist who will help manage the Theakston property portfolio; and Edward Theakston, an executive at Scottish & Newcastle with many years experience of the brewing and pub industry.
The family are joined by Collin Wood, a former managing director of Theakstons. Mr Wood and Simon Theakston will become executive directors of Theakston.
Scottish Courage will retain a minor shareholding and continue to distribute the Theakston beers.
Simon Theakston, great great grandson of the founder Robert Theakston told the company's staff: "At Masham we have always been committed to producing quality cask ales and that tradition will continue."
"We will remain part of the local community and look forward to working with a wide range of partners over the coming months to ensure that Masham remains a centre of brewing excellence.
Michael Theakston, father of the four brothers and a former chairman of the company, said: "This is a very proud day for me and my family.
"For many years now I have harboured a vision of my four sons regaining control of the brewery. For that vision to now become a reality is a tremendous achievement and my wife and I are very happy indeed."
Related articles:
Theakston returns to founding family (10 September 2003)
