New funding to back family-owned brewery expansion

03-May-2022 - Last updated on 03-May-2022 at 08:47 GMT

Seven Bro7hers has secured funding to help supply larger customer contracts and purchase orders

A family-owned brewery in Salford, Manchester has secured a quarter of million pounds funding through Cynergy Business Finance, which will assist in fulfilling increased orders and invest in new plant and machinery.

Seven Bro7hers is a fast growing, family-owned brewery set up by seven brothers, that was established in 2014. It brews a range of lagers, IPA’s and stouts and has recently launched a new vegan range. Beers also include some interesting variants including Banana Bread & Walnut Dunkelweizen at (7%abv) and passion fruit pale ale (5%abv).

Alongside brewing beers, the business has seven bars located throughout Manchester and Liverpool, including one at Manchester Airport’s newly refurbished Terminal 2. Additionally, the brewing company supplies third party bars and wholesale businesses via major supermarkets.

Growing orders

The new funding will help the business handle its growing orders from major retailers and wholesalers which has seen turnover double. With this increased turnover, the business has developed a requirement for additional working capital.

The funding from Cynergy Business Finance will enable Seven Bro7hers to supply larger customer contracts and purchase orders as well as allow them to further invest in their plant and machinery as the brewery demand increases.

cashflow pressures

Keith McAvoy, ceo and founder of Seven Bro7hers, said: “Our business needed a factoring facility to ease the cashflow pressures that all businesses experience. Cynergy Bank were impressive from the very beginning and ensured we were kept abreast of every step of the onboarding process.”

Dan Burton, executive director, Cynergy Business Finance, added: “We are very pleased to support Seven Bro7hers with this invoice finance facility which will support their future growth plans and investment strategy. The business is family owned and extremely well established and we look forward to supporting them on the next stage of their journey.”

Meanwhile, fish processor Denholm Seafoods has secured an eight-figure funding package from HSBC UK, backed by UK Export Finance (UKEF), to support its growth into international markets.