Tyneside advisers raise a glass to head of steam purchase by Camerons Brewery
A Team of Newcastle advisers has helped ensure customers of a string of iconic North pubs continue to enjoy traditional cask ales, craft beers and world lager this Christmas after they were acquired by fast expanding brewer and pub operator Camerons Brewery.
Dealmakers at law firm Watson Burton and business advisers and chartered accountants UNW advised Hartlepool based Camerons Brewery on its recent acquisition of the Head of Steam pub group, who were represented by Sintons law firm.
The deal included well known Newcastle pubs The Cluny in Ouseburn, Tilley’s on Westgate Road and the Head of Steam opposite Central Station and forms an important part of Camerons Brewery’s five year growth strategy.
It will see the company add seven new outlets to its operations and take Camerons’ estate to over 75 sites throughout the North of England.
UNW partner and licensed trade expert David Ward advised the ambitious pub group on all of its taxation, due diligence and structuring affairs.
Meanwhile Duncan Reid led both the corporate and real estate teams at Watson Burton on all legal aspects of the acquisition, which will develop Camerons offerings and help it expand geographically.
Sintons, led by partner Matt Collen, advised Head of Steam on the disposal.
Camerons Finance Director John Foots said: “We have worked well on this assignment with our advisers UNW and Watson Burton.
“The team’s advice has been invaluable and we have experienced a seamless integration process as a result. 2015 will be our 150th anniversary and we look forward to celebrating our continued growth.’’
UNW Tax Partner David Ward said: “It was great to act for Camerons in respect of their high profile acquisition of these well known pubs.
“The Head of Steam portfolio dovetails well with Camerons’ desire to grow their own brand offering throughout the North East and complements their existing estate really well.”
“This is an extremely exciting deal for Camerons Brewery which we are thrilled to have acted upon,” said Duncan Reid, Head of Corporate at Watson Burton.
“This is the first step in an exciting five year growth plan for the company and we look forward to working with Camerons Brewery as it continues to develop its retail pub business across the North of England.’’
Sintons Company and Commercial department partner Matt Collen said: “The Head of Steam group operates some of the best-known and loved venues in and around Newcastle – The Cluny and The Central in particular are well regarded around the region.
“We were very pleased to work with Tony on the sale of his business, and are confident the venues will continue to thrive under the ownership of Camerons.”
UNW and Watson Burton will continue to advise Camerons Brewery on its future expansion as it looks to grow to an estate of 200 pubs in the North within the next five years.
The transaction also included the Head of Steam in Durham and Huddersfield, as well as Central in Half Moon Lane, Gateshead.