Registered 15th April 1888 as the Cheltenham Original Brewery Co. Ltd. to acquire the business of J.T. Agg-Gardner founded in 1760.
Name changed to Cheltenham & Hereford Breweries in 1945 when the Hereford & Tredegar Brewery Ltd. was acquired and was later renamed again to Cheltenham Brewery Holdings Ltd.
Merged with the Stroud Brewery in 1958 to form West Country Breweries Ltd. with 1,275 tied houses.
Acquired by Whitbread & Co. Ltd in 1963 and was latterly known as Flowers Brewery until closure in 1998.
The following information is courtesy of Paul Best:
PROSPECTUS.
The SUBSCRIPTION LIST will be OPENED THIS (MONDAY) MORNING, the 16th day of April, 1888, and may be Closed at any time thereafter, and will be CLOSED at the latest on or before THURSDAY, the 19th April, 1888, at 4 o’clock p.m.
THE CHELTENHAM ORIGINAL BREWERY COMPANY LIMITED.
Share Capital, £120,000; Debentures, £100,000. These Debentures are to be created and secured through Trustees by a deed under which Debenture Bonds bearing interest at 4 per cent. per annum will be issued in multiples of £100, and are only to be redeemable at the Company’s option, on and after 30th June, 1908, in whole or in part at £110 per 100 on sixth’s month’s notice. The rental charged on the freehold property alone will more than provide the interest on this Debenture issue. Share Capital to be issued as follows :- 12,000 Preference Shares of £5 each, bearing 6 per cent. cumulative dividend, £60,000; 12,000 Ordinary Shares of £5 each, £60,000. Interest and dividends on the Debentures and Preference Share will be payable half-yearly, calculated from dates of payment, the first payment to be made on 30th June, 1888.
The whole of the above Debentures and Shares are offered for subscription as follows :-
£5 per cent. or 5 shillings per Share to be paid on Application.
£20 per cent. or £1 shillings per Share to be paid on Allotment.
£25 per cent. or £1 5 shillings per Share to be paid on 23rd May 1888.
£50 per cent. or £2 10 shillings per Share to be paid on 23rd May 1888.
Total £100. Total £5. 0s.
The Allotment will be made as early as possible after the Subscription List is closed. In case no Allotment is made, the amount paid Application will be returned in full. Failure to pay any instalment when due will render all previous payments liable to forfeiture.
The Debentures will be secured by a conveyance of the Brewery Premises and Freehold Property in favour of Trustees.
The Preference Shares will be in entitled to priority over the Ordinary Shares of the Company for Capital and for Cumulative Preferential Dividend of 6 per cent. payable out of profits.
TRUSTEES FOR DEBENTURE HOLDERS.
The Right Hon Sir Michael E. Hicks Beach, Bart, M.P.
H. D. Greene, Esq., Q. C., Temple, E.C.
W, H, Gwinnett, Esq., J. P., Chairman County of Gloucester Bank.
DIRECTORS.
J. T. Agg-Gardner, Esq., M.P., Cheltenham, Chairman.
Colonel Agg-Gardner, J.P., Director of County of Gloucester Bank.
Charles Edward Barnett, Esq., 72 Lombard Street.
Sir James Carmichael, Bart.
With power to add to their number>
*Will join the Board after the allotment.
BANKERS – County of Gloucester Bank, Cheltenham and Branches; Lloyds Barnetts and Bosanquets Bank, London.
BROKERS – Messrs Coleman and May, 2 Tokenhouse Buildings E.C.
SOLICITORS – Messrs Paine, Son, and Pollock, London. Messrs Ticehurst and Sons, Cheltenham.
AUDITORS – Messrs Broom, Hays, and Akers, London.
SECRETARY (pro tem) J. H. Hays.
OFFICES (pro tem) 11 Abchurch Lane, London.
CHELTENHAM OFFICE – The Brewery.
This Company is formed for the purpose of acquiring, the working, and extending the well-known Brewery, Malt Houses, and Wine and Spirit Stores, the property of Mr AGG-Gardner M.P. of Cheltenham.
This Business is one of the largest in the West of England, and has been established well over 100 years.
The Property to be acquired by the Company includes :-
Freehold Brewing Premises, almost entirely rebuilt in 1887, and now fitted with the most modern Plant (35 quarter) In addition there is a duplicate Plant, capable of working 15 Quarters.
Freehold Malthouses.
Freehold Stables, Offices, Yard, Cooperage and Manager’s Dwelling House.
Freehold Premises at 386 High Street, used for the Wine and Spirit Business.
Ninety-three Freehold Hotels and Public-houses, the entire trade of which is tied to the business. There are also a considerable number of other Tenements attached to the Freehold Property.
Sixty Hotels and Public-houses held on lease or on yearly tenancies, the trade of which is also tied.
The premises are admirably situated for carrying on the business, and, in addition to the tied trade, a large Private Trade is done.
There is an inexhaustible supply of excellent water obtained from a well sunk on the premises.
Messrs Broom, Hays and Akers, Chartered Accountants, who have for many years examined and audited the accounts of the business, certify that the average annual returns, including rentals, for three years ending 30th September, 1887, amounted to £67,327 13 shillings and 1 penny., and that the average gross profits for the same period, including rents, were £29,504 0shillings and two pence., with a net result of £12,469 8 shillings and 10 pence.
The average annual quantity of Malt brewed for this period has been 6,167 quarters.
The net profits and income on this footing would be sufficient to pay, in addition to the Interest on Debentures and Preference Shares, a dividend on the Ordinary Shares of 8 per cent. per annum. With the advantages of the newly erected plant, and the opportunity of conducting the business more economically and at a less outlay on repairs upon the general property. The Directors are advised that a saving of at least £1,200 per annum may certainly be calculated on, which would provide an addition of 2 per cent on the ordinary capital, making 10 per cent. in all.
The price to be paid by the Company for the Freeholds and Leaseholds, fixed and loose Plant, including Horses, Drays, Casks, &c, and Goodwill has been fixed at £176,000. 0s 0d.
And for the Stock-in-Trade and Book Debts, at the value at which they stood in the books of the business on 26th March 1888, amounting to £41,221 2 shillings and ten pence.
Making a Total of £217, 221 2s 10d.
Payable either wholly in cash, or two-thirds in cash and one-third in equal proportions of Debentures and Shares at par, at the option of the Directors.
The stock of Beer at this time of the year is always much larger that at any other, as the bulk of the winter brewing is stored in the cellars for the summer trade ; and as the malting season is just completed there is a large stock of malt sufficient to provide for working on till December next, when the new seasons malt will be available.
The current balance in hand, arising from the sums daily receivable, are believed to be amply sufficient for working capital to be raised, in addition to the purchase money, will be available for extending the business.
The Company will acquire the business as from the 25th March 1888, with all profits and income arising from that date.
Mr A. J. Shinner, who has managed the Brewery Business for nearly 30 years, has consented to continue the Management. The Company will also retain the services of Mr Frank Fenner as Manager of the Wine and Spirit Business, a position he has occupied for 14 years.
Messrs Ticehurst and Sons, who have been for years past acted as Solicitors to the Brewery in Cheltenham, will continue to act in that capacity, while Messrs Paine, Son, and Pollock will act as the London advisers of the Board.
The only Agreement relating to the purchase of the Business is one dated April 13th, 1888, and is made between J.T. Agg-Gardner, Esq., M.P., of the one part, and the Company on the other part. Copies of the same may be seen at the Offices of Messrs Paine, Son, and Pollock, Solicitors, 14 St Helen’s Place, London, and Messrs Ticehurst and Sons, Solicitors, Cheltenham. By this Agreement, the Vendor, who as the Promoter, agrees to bear all the expenses, except, brokerage, of the Company down to the date of allotment. He is also willing to hold any Shares allotted to him for 18 months from the date of allotment.
There are also other agreements, including Trade Contracts, Leases, &c., which it is impracticable to specify. Applicants for Shares must therefore be deemed to waive the insertion of dates and names of the parties to any such Contracts, and to accept the above statement as a sufficient compliance with section 38 of the Companies Act, 1867.
Copies of Memorandum and Articles of Association can be inspected at the Offices of the Company’s Solicitors. Application for Prospectuses to be made at the Temporary Offices of the Company, 11 Abchurch Lane, London; at the Original Brewery, Cheltenham ; and at the Bankers and Brokers.
COPY OF ACCOUNTANTS CERTIFICATE.
We have examined the Books of the Original Brewery, Cheltenham, and of the Wine and Spirit Stores in connection therewith, for the three years ending, 30th September, 1887, and we find that the average annual gross returns amount to £67,327 13 shillings and 1 penny ; the average annual gross profit, including rentals, to £29,504 0s 2d ; and the average annual net profits and income to £12,469 8 shillings and ten pence.
Source; Gloucester Citizen Monday April 16th 1888.
Tied Houses
Albert Arms, 14 Hamilton Place, St. Pauls Road, Cheltenham (leased 1891 and 1903)
Albion Inn, 58 Gloucester Road, Cheltenham (1891,1903)
Anchor Hotel, High Street, Tewkesbury (1891,1903)
Andoversford Hotel, Station Road, Andoversford (leased 1891 and 1903)
Barley Mow, 75 Tewkesbury Road, Cheltenham (1891,1903)
Battledown Inn, Hales Road, Cheltenham (leased 1891 and 1903)
Bayshill Inn, St. Georges Place, Cheltenham (1891,1903)
Beaufort Arms, London Road, Cheltenham (1891,1903)
Beckford Inn, Beckford, Nr. Tewkesbury (leased 1891, owned 1903)
Bell Hotel, 107 High Street, Cheltenham (leased 1891 and 1903)
Bell Inn, 70 Bath Road, Cheltenham (1891,1903)
Bell Inn, Main Road, Shurdington (1903)
Belle Vue Hotel, 55 High Street, Cheltenham (leased 1891)
Berkeley Arms, 89 Albion Street, Cheltenham (1891,1903)
Berkeley Arms, 8 Church Street, Tewkesbury (1891,1903)
Black Horse, Rosehill Street, Cheltenham (leased 1891)
Boars Head Inn, 28 Henrietta Street, Cheltenham (leased 1891 and 1903)
Brewers Arms, 7 St. Pauls Street North, Cheltenham (1891,1903)
Brewers Arms, Tewkesbury Road, Cheltenham (leased 1891)
Bridge Inn, Tewkesbury Road, Cheltenham (leased 1891 and 1903)
British Crown Inn, Dunalley Street, Cheltenham (leased 1891, owned 1903)
British Rifleman, Pittville Street, Cheltenham (1891,1903)
Burton Street Brewery, Burton Street?, Cheltenham (1891,1903)
Caledonian Inn, 60 Swindon Road, Cheltenham (leased 1891, owned 1903)
Carpenters Arms, 6 Portland Square, Cheltenham (leased 1891 and 1903)
Chosen Hotel, Station Road, Churchdown, Gloucester (1903)
Cleveland Inn, 18 Tewkesbury Road, Cheltenham (1903)
Coach and Horses, Stow Road, Bourton on the Water (1891 (Agg-Gardner),1903)
Compasses Inn, New Street (Cavern), Cheltenham (1891,1903)
Cooperage Inn, 203 High Street, Cheltenham (leased 1891 and 1903)
Coopers Arms, 65 High Street (Cactus Jacks), Cheltenham (1891,1903)
Corner Cupboard Inn, 83 Gloucester Street, Winchcombe (1903)
Cotswold Inn, East End, Charlton Kings (1891,1903)
Craven Arms, Brockhampton (leased 1891 and 1903)
Cross Keys Inn, 8 Tewkesbury Road, Cheltenham (1891,1903)
Crown and Harp, Cheltenham Road, Bishops Cleeve (1903)
Dennises, Coleford (leased in 1891)
Dewdrop Inn, Townsend Street, Cheltenham (leased 1891, owned 1903)
Duke of Sussex, 40 Swindon Road, Cheltenham (1891,1903)
Duke of York, London Road, East End, Charlton Kings (1903)
Duke of York, Oxford Passage, Cheltenham (leased in 1891, owned in 1903)
Early Dawn, 265 High Street, Cheltenham (leased in 1891, owned in 1903)
Endeavour Inn, Nr.Parish Church, Charlton Kings (1891,1903)
Endeavour Inn, North Place, Cheltenham (leased 1891, owned 1903)
Engineers Arms, St. Pauls Road, Cheltenham (1891,1903)
Exmouth Stores, 19 Rotunda Terrace, Cheltenham (1891,1903)
Express Inn, Chapel Street, Cheltenham (leased 1891 and 1903)
Farmers Arms (location unknown), Cheltenham (leased 1891, owned 1903)
Farriers arms, 87 Church Street, Tewkesbury (1891,1903)
Fleece Hotel, High Street, Cheltenham (1891,1903)
Fox and Hounds, 116 Prestbury Road, Cheltenham (1891,1903)
Gardeners Arms (Harvest Home), Greet, Winchcombe (1903)
Gardeners Arms, Kemerton (1903)
George Inn, 206 High Street, Cheltenham (leased in 1891 and 1903)
Globe Inn, 4 North Street, Cheltenham (leased 1891, owned 1903)
Golden Cross Inn, Tewkesbury Road, Cheltenham (leased 1891, owned 1903)
Grapes Tavern, 11 Gloucester Place, Cheltenham (1891,1903)
Green Dragon Inn, Cockleford (1891,1903)
Greyhound Inn, 198 Hewlett Road, Cheltenham (leased 1891 and 1903)
Harp Inn, 270 High Street, Cheltenham (1903)
Hatherley Inn (Three Crowns), 293 Hatherley Road, Cheltenham (1903)
Haw Bridge Inn, Haw Bridge, Tirley (1891,1903)
Hewlett Arms, Hewlett Road, Cheltenham (1891,1903)
Hop Pole Inn, 22 Gloucester Road, Cheltenham (leased in 1891 and 1903)
House in the Tree, Hayden’s Elm, Cheltenham (leased in 1891 and 1903)
Kings Arms, 182 Bath Road, Cheltenham (leased in 1891 and 1903)
Kings Arms, Prestbury (leased in 1891 and 1903)
Lamb and Flag, Commercial Street, Cheltenham (leased in 1891 and 1903)
Leckhampton Inn, Shurdington Road, Cheltenham (1891,1903)
London Ale & Porter Stores, 184 High Street, Cheltenham (leased 1891 and 1903)
Maltsters Arms, St. James Street, Cheltenham (1891)
Malvern Inn, 164 Leckhampton Road, Cheltenham (1891,1903)
Marlborough Arms, Princes Street, Cheltenham (leased in 1891 and 1903)
Marquis of Granby, North Street, Winchcombe (1891,1903)
Masonic Arms, Albion Street, Cheltenham (leased in 1891 and 1903)
Midland Hotel, 237 Gloucester Road, Cheltenham (leased in 1891 and 1903)
Mill Inn, Withington (1891,1903)
Mitre Inn, Sandford Street, Cheltenham (1903)
Nags Head, 236A High Street, Cheltenham (1891,1903)
Nelson Inn, 221 High Street, Cheltenham (1891,1903)
New Inn (Little Owl), Cirencester Road, Charlton Kings (1903)
New Inn (Bugatti), Gretton (1891,1903)
New Inn, Shurdington (Cheese Rollers) (leased in 1891, owned 1903)
North Place Stores, Cheltenham (leased 1891)
Old Anchor Inn, 52 Tewkesbury Road, Cheltenham (leased 1891, owned 1903)
Old Cherry Tree Inn, Swindon Road, Cheltenham (1891,1903)
Old Elm, Churchdown (leased 1891)
Old Elm Tree, Church Road, Bishops Cleeve (leased in 1903)
Old House at Home, Brookfield Lane, Churchdown (1903)
Old White Swan. Piffs Elm, Nr. Cheltenham (Gloucester Old Spot) (1891,1903)
Oxford Arms, 5 Corpus Street, Cheltenham (leased in 1891 and 1903)
Pack Horse Inn, 89 Gloucester Street, Winchcombe (1903)
Pheasant Inn, Golden Valley, Staverton (1891,1903)
Pilgrim Inn, Rutland Street, Cheltenham (1891)
Pittville Hotel, 3 Portland Street, Cheltenham (leased 1891, owned 1903)
Plasterers Arms, Rutland Street, Cheltenham (1891,1903)
Plough Hotel, High Street, Cheltenham (owned 1891, leased 1903)
Plough Inn, Mill Street, Prestbury (1891,1903)
Plough Inn, Bamfurlong Cross Roads, Staverton (leased in 1891 and 1903)
Portland Inn, Sherborne Street, Cheltenham (1903)
Prince of Wales, 6 Portland Street, Cheltenham (1891,1903)
Queens Head, 48 Tewkesbury Road, Cheltenham (1891,1903)
Railway Inn, New Street, Cheltenham (leased in 1891 and 1903)
Railway Inn, Norwood Road, Cheltenham (1891,1903)
Red Lion Inn, Ham, Charlton Kings (1891,1903)
Red Lion Inn, 311 High Street, Cheltenham (leased in 1891 and 1903)
Regent Ale and Porter Stores, 8 Regent Place, Cheltenham (1891,1903)
Regent Inn, Regent Street, Cheltenham (1891,1903)
Rising Sun Hotel, Cleeve Hill (1891,1903)
Rose and Crown, Rose and Crown Passage, Cheltenham (leased 1891)
Royal Hotel, 54 Horsefair Street, Charlton Kings (1891,1903)
Royal Oak, 298 High Street, Cheltenham (leased in 1891)
Royal Oak, Quay Street, Tewkesbury (1891,1903)
Royal Victoria Stores, Montpellier Street, Cheltenham (leased in 1891)
Royal Well Tavern, 5 Royal Well Place, Cheltenham (1891,1903)
Russell Arms, Hales Road, Cheltenham (1891,1903)
Shamrock Inn, Grove Street, Cheltenham (1891,1903)
Sharpness Hotel, Sharpness (leased 1891, owned 1903)
Sherborne Inn, 33 Sherborne Street, Cheltenham (1891,1903)
Shutter Inn, Gotherington (1903)
Somerset Arms, 200 High Street, Cheltenham
Somerset Brewery, St. Georges Street, Cheltenham (leased in 1891 and 1903)
St. Georges Wine Vaults, 48 St. Georges Place, Cheltenham (leased in 1891 & 1903)
St. Margarets Stores, Cheltenham (leased in 1891 and 1903)
Star Hotel, Regent Street, Cheltenham (leased in 1891)
Suffolk Stores, 8 Suffolk Parade, Cheltenham (1903)
Sun Inn, 236 High Street, Cheltenham (1891,1903)
Swan Inn, Evington Cross Roads, Coombe Hill (1891,1903)
Swindon Inn, 226 Swindon Road, Cheltenham (leased in 1891, owned in 1903)
Sydney Arms Hotel, 19 Pittville Street, Cheltenham (1891,1903)
Talbot Inn, 14 Duke Street, Cheltenham (1891,1903)
Ten Bells Inn, 208 Bath Road, Cheltenham (leased in 1891, owned in 1903)
Three Horseshoes Inn, 4 Henrietta Street, Cheltenham (leased in 1891 and 1903)
Tivoli Ale & Porter Stores (Phoenix), 3 Tivoli Place, Cheltenham (1891,1903)
Tracey Arms, 4 Barton Street, Tewkesbury (1891,1903)
Turks Head, 25 Fairview Road, Cheltenham (leased in 1903)
Unicorn Inn, Gloucester Street, Winchcombe (1891,1903)
Union Inn, 2 Union Street, Cheltenham (1891,1903)
Vauxhall Brewery, Tewkesbury Road, Cheltenham (1891,1903)
Victoria Porter Stores (off licence), Fairview Road, Cheltenham (1903)
Vine Tree Inn, Mill Street, Prestbury, Cheltenham (1891,1903)
Waggon and Horses, Kemerton (1891,1903)
Waggoners Arms, Golden Valley, Staverton (1891,1903)
Wheatsheaf Inn, Old Bath Road, Leckhampton (1891,1903)
White Bear, Bredon Road, Tewkesbury (1891,1903)
White Hart, Tewkesbury (1891)
White Hart, High Street, Winchcombe (1891,1903)
White Lion, North Street, Winchcombe (1891,1903)
Wine Vaults (off licence), 386 High Street, Cheltenham (1891,1903)
Worcester Arms, 92 Tewkesbury Road, Cheltenham (1903)
