The boss of Adnams has said there has been "no change" to the brewery's financing plans despite reports emerging that the firm was open to an outright sale.

Sky News had reported the Southwold-based company was contacting prospective investors and suitors ahead of a potential buyout, quoting a source close to the brewery.

But chief executive Andy Wood has dismissed the report and said Adnams is instead searching for external investment - short of a full takeover.

Dr Wood said: "There has been no change at all in our intention.

East Anglian Daily Times: The Adnams brewery in SouthwoldThe Adnams brewery in Southwold (Image: Newsquest)

"Adnams is focused on exploring its options for continuing to underpin its ambitious growth plans, and in order to further the story of a brand which is so well loved by our East Anglian community – and far beyond.

"We have a healthy balance sheet that we are seeking to strengthen still further, supportive banking arrangements, most importantly a team of wonderfully dedicated staff and tenants, and every belief that we will soon find a well-fitting solution for our next chapter, under the leadership of my newly announced successor, Jenny Hanlon."

Sky News' story suggested a full sale of Adnams, which remains part-owned by the founding Adnams family, was "now an option".

The report also hinted Adnams would be willing to sell off some of its freehold assets, including some pubs, but said the "preferred" choice was receiving a funding injection.

In February, Adnams said it was looking more finance from the City after its "ambitious growth plans" were hit by the economic slowdown, which has hit the hospitality industry hard.

Dr Wood, who is retiring this summer and being replaced by chief financial officer Jenny Hanlon, said "significant inflationary pressure" on labour, energy, raw materials and borrowing costs were affecting trade, with the cost-of-living crisis also keeping people at home and not eating and drinking in pubs.

East Anglian Daily Times: Jenny Hanlon will be Adnams' chief executive in JulyJenny Hanlon will be Adnams' chief executive in July (Image: Warren Page)

He said: "We are determined to find the right way to ensure the company can be even more resilient for the future, in what remains an uncertain world.

"Thankfully we have a healthy balance sheet from which to build, and we are seeing consistent and outstanding success across the board for our products."