
Beer brand Magic Rock has been acquired by industry investor Keystone Brewing Group following financial difficulties at the Huddersfield brewer.
The US-inspired brand has become stablemates with Masham-based Black Sheep Brewery along with Purity Brewing Co., Big Drop, Brick, Brew by Numbers, Wolf Pack and Maison SASSY. It follows last week’s notice of intention to appoint administrators at Magic Rock Brewing Company, which is said to have run into cash issues.
Magic Rock’s Huddersfield brewery site, which had employed as many as 65 people in recent years, has closed. But Keystone says it has secured the future of the brand alongside Fourpure, which had both been owned by the holding company In Good Company Brewing.
The most recent accounts available for Magic Rock, founded in 2011, show the brewery was facing challenges and a turnaround plan had been put in place by directors. In documents covering the business’ trading during 2021, bosses said there were efforts to increase sales volumes, control input costs and secure additional funding.
But at the time, the brewery said some of the sales opportunities were still in negotiation and funding agreements had not been signed – casting doubt on the firm’s ability to continue as a going concern.
Keystone CEO Mark Williams said: “Keystone Brewing Group has secured an exclusive license with the brand owners to take these fantastic brands forward in the UK and worldwide. The Magic Rock brewery has unfortunately closed, and we are naturally saddened at the loss of the Magic Rock site, and the employees and their families directly affected by this.
“The Magic Rock brewery had already ceased brewing due to cash issues, several weeks prior to agreeing the deal today, as such there was no viable business left.”
Keystone Brewing Group is the rebranded portfolio of investor Breal Group’s brewing industry. Breal rescued Black Sheep Brewery out of administration in 2023, via a £5m pre-pack deal. Last year the group announced a £1m investment into Black Sheep.
Original artice – https://business-live.co.uk/all-about/yorkshire-humber