The buyout forms the first phase of Half Full Beer Co’s plans that also involve the launch of a brand new brewery.

The company, formed by former Ilkley Brewery manager Luke Raven, is backed by a number of investors that have pinpointed “immediate” investment and expansion at Ilkley.

He explained: “With the quality of their beers recognised, and demand high, the opportunity to continue to be a part of the Ilkley Brewery story was not one to be passed up.

“I formed Half Full Beer Co with an open remit to engage in the beer industry as a whole, and with a vision to develop a portfolio of brands. We are energized and focused on providing fresh impetus to continue building the Ilkley brand as an integral part of this portfolio.

“Our optimistic, open and community-based approached perfectly suits Ilkley Brewery, and as a local resident myself, this is a very proud day. I am delighted that Richard Shelton is remaining as a shareholder and Director, and can be confident that under his sustained stewardship, the business can continue to flourish.”

Half Full is planning investment in company infrastructure, which includes the immediate creation of more jobs, with orders have already placed for brewing kit to increase production.

Managing Director Richard Shelton added: “This marks the start of yet another exciting chapter in the brewery’s history. Having already grown at an exceptional rate, I believe that this new partnership and the investment that comes with it will enable us to raise our ambitions and maximize our potential.

“I am supported by a strong and dynamic team, who have been fundamental in building Ilkley Brewery’s reputation, and will continue to play an important role in our future growth.

“We have flourished in the last year, growing the brewery to be in the top 15% of Independent British breweries by production. We can now move forward together with a target to be in the top 5% within the next two years.”