Camerons Brewery is targeting further growth and business opportunities following a £24.7m funding package from the Newcastle team at Royal Bank of Scotland Corporate & Institutional Banking (RBS CIB).
RBS first worked with the group in 2004, and it continues to hold a sole bank relationship having supported capital spend on the brewery and the acquisition of pubs. The latest deal is arranged on a three and a half year bi-lateral basis, with RBS as the only arranger.
Camerons employs 90 people in its brewery, alongside 30 other staff in three managed pubs, and owns an estate of 69 pubs across the North of England. The company manufactures a range of beers and ales, including the well-known Strongarm Ruby Red Ale and Trophy Special.
The business is 76% owned by chairman David Soley and his family, with the remaining 24% being owned by Heineken UK, who Camerons also has a significant contract brewing agreement with.
Graham Robinson, relationship director for RBS CIB comments: “Camerons is a very strong business and we are delighted to support the firm in this latest deal. They have some exciting growth plans for increasing their brewery output and spread of customers, and we look forward to working with the brewery long into the future.”
David Soley, chairman at Camerons, adds: “RBS provided us with a competitive refinancing offer which we are delighted to have received. We pride ourselves on our strong independent, customer-focused business model and continue to seek further opportunities to grow our presence in prime North East markets.”
