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Woolworths buys into Australian Brewery

Australian Woolworths acquires brewery stake – Beer – 2009 19/05/09
Woolworths is to buy a stake of around 25 per cent in the Australian brewing firm Gage Roads.

The deal, which is expected to total $1.9 million (£947,000), will now see the brewer produce around 350,000 units of private beer for the supermarket chain.

Woolworths will purchase around 76.4 million ordinary shares in the company to fund new equipment and production lines.

Nick Hayler, chief executive of Gage Roads, says the firm is pleased to attract the interest of a company like Woolworths.

He commented: “This is a win-win situation for all parties.”

My Hayler added that the company is now planning to maximise brewing capacities at its western Australian plant.

The Woolworths deal is still subject to shareholder approval but is expected to be finalised in late June.

Gage Roads currently produces a number of premium and IPA beers, as well as its low-carbohydrate craft product Kutt.

Thursday, December 14, 8:43 pm

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