Young’s stops brewing beer

YOUNG & Co is to quit brewing beer after 180 years. It said yesterday it would sell it 40 per cent stake in the Wells & Young’s Brewing Company to Charles Wells. The deal is worth £15m, to be paid in two instalments in February 2013 and February 2014.

Young’s said it would now concentrate on managing its pubs business, which is focused in London and the south-east. A supply arrangement will ensure that the beers are still served in Young’s pubs.