Craft beer importer and distributor Left Coast says it has been forced to increase its prices following the significant fall in the value of the pound compared to the US dollar.
The company, which specialises in importing beers from the US west coast, said the impact of the Brexit vote on the pound has resulted in its first price hike in four years.
Nigel Garlick, Left Coast managing director, said: ‘Every year we have had to work smarter, harder and shave our margins down to compete. But the stand out factor that has made everything so much harder was Brexit and the huge drop in the value of the pound compared to the dollar.
‘When we started you could buy $1.60 worth of shipping and beer for a pound, now all you get is $1.20’s worth, and that’s a huge difference. And so sadly for the first time in four years we are announcing that from the 15 Feb we will be increasing our list prices. It averages out to around 16.44% for most of our core beers.’
The company only imports independent beer brands, including those from Silver City Brewery, Hale’s Ales, North Coast, Scuttlebutt, Reuben’s Brews, and Two Beers Brewing Co.
Garlick added that the company was waiting to see if the new Trump administration would affect costs for US producers: ‘We were so against Brexit for all the right reasons and also selfishly we knew the pound would nosedive. With the same degree of trepidation as our US brewers who we work with, we await to see the full impact of the Trump regime. Nothing is predictable, and who knows where these so called improved trade deals will come from, but I doubt it will affect the small independents such as us.’