Young's and Wells merge brewing operations

May 26, 2006: Young's has announced it is to close its famous Wandsworth brewery and merge with Bedfordshire-based Charles Wells.

From October 2 the firms will be brewing together under the name of Wells and Young's.

The two firms' pub estates will continue to operate separately.

CAMRA chief executive Mike Benner said: “We have known for some time that Young's could not continue at its present site, but we held out hope that efforts to find a suitable local alternative would bear fruit and not spell the death of more than four centuries of brewing tradition in Wandsworth.

“CAMRA wants assurances that every one of the beer brands produced by both Young's and Charles Wells will have a secure future, and that the identity of Young's 208-strong pub estate and Charles Wells' 248 pubs will be safeguarded.

“We would also urge Young's to be upfront about where its beers are brewed and not try to pass itself off as a London brewery. It is a tremendous loss for London drinkers and a great shame that there is only one substantial real ale brewer left in the nation's capital in the form of Fuller's.”

Young’s chief executive, Stephen Goodyear said: “We are pleased to be able to announce the resolution of our brewing review and bring to an end the uncertainty that has surrounded our business for the past two years.

"The creation of Wells & Young’s brings together two complementary brewing businesses with unrivalled brewing heritage. Having resolved our brewing options, we can concentrate on completing the sale of the Wandsworth sites, which would unlock substantial capital to continue to build Young’s high quality pub estate and enhance shareholder value.

“Young’s will continue to be a vertically-integrated business with a substantial interest in a modern and efficient brewery. At the same time, this deal will enable us to make a step change in the financial performance of the company.

“Importantly, Young’s beers will continue to be available in all Young’s pubs and to all Young’s customers. We believe this is the best outcome for the company, for customers, for employees and for shareholders.”

Paul Wells, managing director of Charles Wells, added: “We are delighted to be teaming up with such a prestigious and historic business as Young’s.

"The merger of our respective brewing interests creates a significant new force in UK brewing, with strong and growing cask ale brands, operating out of one of the UK’s most modern breweries. We look forward to a long and profitable partnership between the two companies.”

John Young, chairman of Young’s concluded: “The decision to sell the Ram Brewery site in our 175th year was taken with some reluctance, for mainly nostalgic reasons, but as I promised when we first announced that we were launching the brewing review in 2003, my head has ruled my heart.

"I thoroughly support the decision to sell the sites and the merger of our brewing interests with Charles Wells, which takes Young’s forward into the next stage in its history.”