W&D agrees Jennings takeover

April 27, 2005: Wolverhampton and Dudley (W&D) has agreed a £45.8m takeover of neighbouring brewer Jennings.

CAMRA has expressed concern that about job security and, indeed, W&D has announced that some jobs at the Cockermouth brewery will be lost in what it said related to "overhead-type costs".

Indeed, the deal does hang on Jennings' shareholders agreeing to it, although the company's own chairman, John Rudgard, is in favour and the offer of 430p a share will seem attractive.

CAMRA chief executive Mike Benner said: "Despite W&D's assurances to keep the Cockermouth brewery open, I think the only way to guarantee the future of the brewery is to defend its independence as a vertically integrated company.

"It has performed very well in recent years, despite the nightmare of foot and mouth disease four years ago. The strategy since then has made its pubs and beer brands very strong and successful."

CAMRA says that the W&DB bid can be fought off if enough shareholders reject the offer. W&D claims cost savings of £2 million will be made, but CAMRA says it is unclear how this will be achieved.

Mr Benner added: "The fate of Jennings does not lie in the hands of an elite of fund managers whose decisions are influenced by purely short-term financial considerations. There are thousands of individual shareholders and we are confident that many will care about local heritage and a long-established independent brewer."