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Well, that's a vibe. Moa Brewing has been sold while Moa Group (which was set up to run Moa Brewing) is going to concentrate on its hospitality operation.
https://www.nzx.com/announcements/367847
https://www.nzx.com/announcements/367847
I'm honestly more surprised they just didn't wrap Moa Brewing up. Was valued at ~$38.5m when it had its IPO in 2012. They've sold it for $1.9m.
At one point, CEO Geoff Ross spoke of Moa taking up as much as 14 per cent of the NZ beer market. https://craftypint.com/news/1434/our-man-in-nz-moas-changing-fortunes
Sale comes at an especially tough time for Moa Brewing. It lost its head brewer David Nicholls recently. He is easily one of the country's best brewers. https://www.brewsnews.com.au/2020/11/05/david-nicholls-leaves-moa/
Sorry, but the numbers here just buzz me out. Here is Moa's share price over the years:
*13/11/12 aka listing day - $1.35
*23/3/20 - $0.094
*today - $0.193
*13/11/12 aka listing day - $1.35
*23/3/20 - $0.094
*today - $0.193
Another number to add, which demonstrates just how poorly Moa Brewing performed.
Harrington's, a brand almost no one outside of Christchurch or craft beer circles knows/cares about, was sold in 2018 to Lion for $6.5m.
Harrington's, a brand almost no one outside of Christchurch or craft beer circles knows/cares about, was sold in 2018 to Lion for $6.5m.
