T&R Theakston Ltd. was founded in 1827 by Robert Theakston and John Wood in Masham, North Yorkshire, England. In 2004 the business returned to family ownership after being purchased in 1987 back from Scottish & Newcastle by four Theakston brothers.
Paul Theakston (Managing Director) left Theakston's in 1988, and in 1992 established The Black Sheep Brewery.