Yorkshire-based Saltaire Brewery has been acquired by Paramount Retail Group.

The acquisition of Saltaire by Paramount, which is a family-owned investment firm, marks their first activity in the drinks sector.

The Sheffield-headquartered group said it aims to leverage its expertise and resources to support the Saltaire Brewery with Saltaire’s management team remaining in their positions following the acquisition.

Sunny Sharma, director at Paramount Retail Group, said: “Saltaire Brewery’s outstanding craft beers are a perfect complement to our existing range of heritage brands. With the increasing global demand for UK-made products, particularly in the USA and Asia, we see tremendous growth potential.

“This acquisition enables us to introduce the best of British brewing to a broader audience, underscoring our commitment to quality and innovation.”