EXCLUSIVE - UK: Wells and Young's offloads Kestrel to outgoing MD
Wells and Young's expects the sale of Kestrel to complete on 1 October
Wells and Young's has lined up the sale of its Kestrel beer brand to its MD, ahead of his departure from the UK brewer.
The company confirmed earlier today (25 September) that it is “in the final stages of negotiations” with Nigel McNally to offload Kestrel, a 9% abv lager, to McNally's new company, Brookfield Drinks Ltd. Just-drinks understands that, pending completion of the deal on 1 October, McNally will stand down from his position at Wells and Young's to concentrate on his new enterprise.
The company declined to give financial details behind the divestment, which sees the brewing, distribution and sales of Kestrel move to Brookfield.
“Whilst Kestrel has been a good brand for us, it isn’t central to our core brand portfolio,” said company chairman Paul Wells. “(McNally's) new venture means we’re able to focus our energies and resources on developing our range of distinctive beers.
“I’d like to thank him for his dedication and commitment and wish him every success in the future.”
McNally added: “I’m excited about taking ownership of Kestrel and applying some of the successes at Wells and Young’s into my own business.”
Having joined Charles Wells in 1994 as marketing manager, McNally became marketing director before moving up to the MD role when Wells and Young’s Brewing Company was formed in 2006.
Wells and Young's acquired Kestrel from Scottish & Newcastle in 2005.
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