Company formed in 1832 by James Paine (1789-1855) as a brewery, maltings, brickworks, and coal merchants. He took on his sons William and James in around 1832. William Paine purchased Bedford Street Flour Mill in 1865, and became sole owner of the Paine and Sons in 1872. William entered into partnership with William Osborn Atkinson, forming the company Paine & Atkinson. The partnership dissolved in 1878, at which time William took his son-in-laws John and Alexander McNish as business partners forming Paine & Co. William Paine died in 1896, and John McNish with his son Wellwood formed a Limited Company, Paine & Co Ltd. Wellwood's brothers, Archibald and Malcolm ran the company alongside him. after their father's death in 1913. Wellwood's sons Ian and Gordon were taken on as partners in the 1930s, with Ian's son Robert joining in the 1960s. Gordon's daughter Fiona joined the company in 1974. The brewery side of Paine & Co Ltd was sold to a group of travel agents in 1982, whilst the flour mill was kept on under the name of Paine's PLC. The brewery operated under the name of James Paine Brewery Ltd before closing in 1987. The flour mill closed in 1990.