Carlsberg buys London Fields brewery
Carlsberg’s executives probably think they made a bargain when they snapped up the London Fields, which has been up for sale since its founder was charged with tax fraud, cheating the taxman out of more than GBP 700,000 (USD 914,000).
There cannot have been many parties bidding for London Fields because the brewery allegedly has been on the market for over a year. The initial asking price for the company, which runs a bar and a brewhouse venue in Hackney, east London, was GBP 1 million (USD 1.3 million), but Carlsberg would not confirm how much it paid or how much beer London Fields sells. The Evening Standard newspaper reported on 3 July 2017 that the deal could be worth as much as GBP 4 million - which is basically small fry when compared to the prices Meantime and Camden Town fetched when sold.
At least London Fields comes with a story which is worthy of a Hollywood movie. The beer firm, which is known for brews such as Easy IPA and Shoreditch Triangle IPA, was founded in 2011 by the flamboyant Jules de Vere Whiteway-Wilkinson, 44, a public schoolboy from a well-to-do Devon family, which made its fortune running pottery clay mines in the 19th century, while his immediate family added to the fortune through property speculation, trading and farming, it was reported.
How the Law could grant Mr Whiteway-Wilkinson permission to start a beer business remains a mystery. After all, in 2004 he and three others were jailed for a total of 36 years for supplying millions of pounds worth of cocaine to City brokers and bankers. As part of his sentence he owed the government an outstanding debt of GBP 3.2 million (USD 5.7 million then) – the amount he is reckoned to have stashed away during his days as leader of the drugs supply gang.
Mr Whiteway-Wilkinson must have a way with words because he managed to persuade the authorities that he would eventually be able to pay his debt from the profits from the brewery.
It is not clear whether he will benefit from the sale of the brewery because his businessman father Juan now owns it, according to accounts filed with Companies House.
“We’re thrilled to add London Fields Brewery to our growing portfolio of great quality craft and specialty beers,” said the Carlsberg UK chief executive, Julian Momen.
Carlsberg is understood to have no liabilities relating to the company’s previous ownership. The deal will be a joint venture between Carlsberg and Brooklyn Brewery, for which Carlsberg has been the UK distributor since 2016. London Fields will continue to operate independently, retaining current staff, but Brooklyn will be involved in the brewing process.
Carlsberg has also promised to get the brewery back up and running in Hackney, its original home.
