Close Brothers Group has reached an agreement to sell Close Brewery Rentals Limited to MML Keystone, a fund managed by MML Capital. The transaction is expected to complete in 2025. The sale is expected to generate a modest gain on disposal and capital benefit. Following completion, the disposal is not expected to have a material ongoing impact on the group's adjusted operating profit. The Group said the sale aligns with its strategic priorities to simplify portfolio, improve operational efficiency and drive sustainable growth.
Mike Morgan, Group Chief Executive, said: "Whilst we are selling the brewery rentals business, we will continue to offer funding solutions to the UK beverage finance market, where we see attractive growth opportunities."
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