CAMRA backs Cains pubco takeover

May 30, 2007: The Campaign for Real Ale (CAMRA) Members’ Investment Club has purchased more than three per cent of the AIM listed Honeycombe pubco, which is set to be renamed the Cains Beer Co plc.

Their reverse takeover is expected to win board approval next month to create a new business that will join the historic Liverpool brewery with the 100 strong pub estate of Honeycombe.

It is the first time that the CAMRA Members' Investment Club has bought so much of a regional beer business so quickly. Shares in Honeycombe have soared since the deal with Cains was announced.

Dave Goodwin, on behalf of the Investment Club, said: “This is an exciting development in the industry. Cains is creating the first integrated pub and brewing business to list for over 10 years.

“We see it as a long-term investment and support for a business which is producing quality beers and getting into more outlets as a result of the deal.

“To be a member of the club you have to be a member of CAMRA so our investors know the industry very well. We re-invest all our dividends so the club truly supports the businesses we invest in.

“The story of the Dusanj brothers and what they have achieved since rescuing Cains is very familiar to our members. There is excitement to see how their quality driven philosophy will benefit the new Cains Beer Company.”

Cains joint managing director Sudarghara Dusanj, who will take over as chief executive of the new business, said: “The CAMRA Member' Investment Club are beer connoisseurs, so it feels like an army of beer lovers has endorsed our plans.

“It is fantastic to know that a significant chunk of the business is in the hands of people who share our passion and belief that beer is the hero. I am sure that they will want to continue to support us by drinking a few pints of Cains in the new pub estate as well.”

The brothers’ reverse takeover of Honeycombe should be ratified on June 7.