13th January 2021
Ripley-based Pentrich Brewing Co has received a £150k investment to help expand its production of cask beers. The funding was provided by the Midlands Engine Investment Fund (MEIF) through First Enterprise – Enterprise Loans.
Founded in November 2015 by Joe Noble and Ryan Cummings, Pentrich Brewing Co has grown from a side project, born from the duo’s passion for craft beer, into one of the most highly regarded small breweries in the East Midlands.
Joe Noble, co-founder and director at Pentrich Brewing Co, said:
“Since founding the business in 2015 we’ve built a strong recognisable brand as well as a base of really loyal customers. However, we were operating at maximum capacity and, in order to grow, we needed to seek extra help.
“We’re therefore excited to put the funding to good use, starting by investing in better equipment. This will enable us to make both keg and canned beer in addition to our existing range of cask beer, which will significantly aid our expansion and has helped us diversify during the COVID-19 pandemic.”
Using finance from First Enterprise – Enterprise Loans, the fund manager responsible for the delivery of the MEIF Small Business Loans fund in the East and South East Midlands – Pentrich Brewing Co has been able to invest in new equipment and bolster its marketing and branding.
Kamran Hassan, business development manager at First Enterprise – Enterprise Loans, said:
“Joe and Ryan started thanks to a passion for good quality beer but it’s turned into so much more than a hobby business. With a local reputation for producing great cask beers, the brand has a massive amount of potential. We’re delighted to support the duo with MEIF funding and wish them the best of luck expanding the business.”
Lewis Stringer, senior manager at the British Business Bank, said:
“It is great to see Pentrich Brewing Co tap into support from the Fund. With this MEIF investment, the business has been able to invest in new equipment and widen its product portfolio. We’d like to take this opportunity to encourage other SMEs in the region to review the funding options available through the MEIF.”
The MEIF project is supported financially by the European Union using funding from the ERDF as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
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