The joint administrators of the popular Gosport based brewery, The Oakleaf Brewing Company Limited, are pleased to announce that they have successfully sold the business out of administration.
The rescue of the business has prevented further jobs losses at the brewery and will result in the continued production of the much loved ale made in the heart of Gosport.
Michael Fortune and Carl Faulds of Portland Business and Financial Solutions were appointed joint administrators on 2nd August 2016 and after recognising that there was a viable business to sell they continued to trade the brewery for the next month whilst they attempted to find a purchaser.
The potential sale of the business was well publicised in the local media and after an initial marketing exercise the joint administrators received over 20 lines of enquiry with a number of offers being received.
Further negotiations took place over the course of a two week period and a sale to Fallen Acorn Brewing Co. Ltd was finally concluded on 12th September 2016.
Carl Faulds said: “I am delighted that the sale of the Brewery has saved jobs in the local area. The sale has also provided a better outcome for the existing creditors of the company and it will allow the Brewery to secure fresh investment to give it a new lease of life”.