Adnams chairman to stand down

Adnams, founded in Southwold, has been operating for 152 years

The chairman of historic brewer Adnams is to step down, marking the end of the family's representation on the company's board.

The ale business was founded in Southwold, Suffolk by George and Ernest Adnams in 1872.

Jonathan Adnams has confirmed he would step down before an annual shareholder meeting in June 2025.

The family remains a major shareholder in the company.

Adnams also announced it has made progress in its search for fundraising after announcing in February it was looking for financial backing to support "future growth plans".

It said it has "secured interest from multiple parties".

"A board committee is currently evaluating indicative and non-binding proposals based on its agreed framework to determine which route offers the best long-term value for the company and its shareholders," it said in a statement.

It comes amid reports the historic brewery was exploring an outright sale earlier this year.

As well as its brewery and distillery, Adnams runs 11 pubs and hotels and has a further 34 partner pubs across Suffolk, Norfolk, Cambridgeshire and Essex.

In May it announced operating losses of £2.5m in 2023, blaming higher costs.

The company said falling inflation had "eased some costs" since the start of 2024.

Longstanding chief executive Andy Wood will also step down from his role at the end of June to be replaced by chief financial officer Jenny Hanlon.

Ms Hanlon will be the first female chief executive officer in the company's 152-year history.