Leeds-based North Brewing has been acquired by Steve Holt, the founder of nearby Kirkstall Brewery.
Like many breweries, North Brewing found itself struggling with the aftermath of Covid and Brexit, as well as utility bills and the cost-of-living crisis.
In a statement today, the company said Holt had rescued the business from administration. North will continue to be an independent brewery, operating from its Springwell site and the existing management team will stay in place.
John Gyngell, who founded North along with Christian Townsley, said: “We are pleased to have found a solution for our team and the legacy of the North brand.”
Townsley added: “This has been an absolutely torrid time for the brewing industry which has faced the fallout from Covid, cost of living crisis, inflation, Brexit and utility price increases.”
The pair, along with Holt, are described as “early pioneers” in developing the craft beer market in the UK.
Holt said: “We’ve been friends and industry colleagues for almost 30 years, North is an iconic beer brand that had to continue. Together we’ll make sure that North will continue to make some of the best beer in the country.”
The new company will be known as Vertical Drinks Ltd T/A North. Financial details were not disclosed.