People understand the benefits of merging, but are surprised I should agree to sell at this time. So why?

H appily for Refresh, this was a sale from a position of strength. We are on target to achieve our highest-ever profit following the last two years where we achieved 20% and then 25% growth. Our volumes are well past the 100,000-barrel mark.

We are the third-largest supplier of premium bottled ales to UK supermarkets and the fastest-growing ale supplier to the off-trade. On-trade business is doing well in a challenging sector and export is growing fast.

Our brands are strengthening with good performances across our portfolio. Brakspear is well ahead in the off-trade and growing its on-trade position, and Hobgoblin — up more than 30% per annum — is now showing the long-term potential to become one of the UK's leading speciality ale brands. This performance from a company that is not yet eight years old is one of which we are very proud.

The business began in June 2000 with the purchase of Ushers beers, which included the wonderful Manns Brown brand, and the UK agency for the respected Löwenbräu range. In spring 2002 we bought Wychwood Brewery and were appointed to handle off-trade Wadworth 6X.

That autumn, we took over the much-respected Brakspear beer business and made a commitment to bring brewing back to Oxfordshire. Eighteen months later we had rebuilt the Witney brewhouse and put in the Brakspear Tun room, with the old Henley "double drop" system.

Over the next three years we strengthened our portfolio further with the launch of the remarkable Innis & Gunn oak-aged beers and the prestigious Duchy Originals ale range. We have remained innovative — we worked with Thatchers to launch the oak-aged cider, Green Goblin, and had it on the shelves within 12 weeks, and launched BeeWyched, our Fairtrade beer, in a similar time-frame. On the marketing side, we have maximised our small marketing budgets with a great team of freelance designers, creatives and PR advisors.

Marston's will be taking on a wide range of special beers, an imaginative and energetic culture and a great team of people who have delivered consistent success. It has committed to keep the brewery open as it's done with Jennings and Ringwood.

Marston's will add its distribution and production scale and ability to invest further to take the brands to the next stage of success. Refresh is now almost debt-free and so had the opportunity to make a significant acquisition — we looked at a number over the last year. However, we have close links with Marston's and had identified strong mutual opportunities for a combined business, and this was significantly the best strategic option we considered.

Refresh could certainly have continued and prospered. But if there is such an obvious and powerful long-term logic to this development, why wait? Carpe diem — seize the day! At a personal level, you inevitably have mixed emotions when you sell a great business, and one of which you are very proud. I will help in the integration of the businesses and then look for new opportunities in the wider drinks sector and in the building of speciality brands elsewhere. Despite the difficult trading climate, there are opportunities to develop new businesses.

Refresh's success has been about people. The sale has made it possible to share some of the proceeds to thank staff members. While there will inevitably be an overlap of some roles, this will provide most of our team with exciting opportunities. Its legacy will be if some of Refresh's brands, culture and ethos carry through to help Marston's lead the UK ale sector and support the revitalisation of the beer category.