Gage Roads Brewing Co. acquires Matso’s Broome brewery in a $16m deal
Category: #world  By Saif Ali Bepari  Date: 2018-06-10
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Gage Roads Brewing Co. acquires Matso’s Broome brewery in a $16m deal

Gage Roads Brewing Company, one of Australia's largest independent breweries, has apparently revealed in its recent announcement that it has signed a deal to acquire Matso’s, a Broome based beer brand, for a total of USD 16 million. As per reliable sources, Gage Roads is likely to raise USD 12 million through investors to fund the takeover.

Reportedly, both the firms have already been associated through an agreement since the year 2007 that witnessed Matso’s flavored beer and alcoholic ginger beer brands being manufactured at the Palmyra brewery of Gage Roads. For the record, Matso’s product volume is said to have reached around 2 million liters per annum with the firm raking in more than USD 2.5 million in annual earnings.

Speaking on the acquisition, the Managing Director of Gage Roads Brewing Company, John Hoedemaker was quoted stating that the craft beer producer is looking ahead to add Matso’s to its portfolio and broaden its offerings of high-quality brands to consumers. He further stated that the Peirson-Jones family has been successful in establishing Matso’s as the leading ginger beer in Australia and Gage Roads now has an opportunity to position the brand for further growth via its national sales team.

For the record, Matso’s was co-founded by Martin and Kim Peirson-Jones in 2000 with a 200-liter brewhouse. The brand name Matso’s has been reportedly derived from Matso’s General Store which was run by the Matsumoto family in the 1950s.

As per the terms agreed to in the contract, Gage Roads would purchase Matso’s Broome Brewing for USD 13.25 million cash plus a deferred amount of about USD 2.8 million in cash or scrip. Reportedly, the Peirson-Jones family would continue to own and operate the Matso’s brewpub in Broome by means of a licensing contract. However, the takeover reportedly provides Gage Road Brewing Company with the option to buy the business within a span of three years.



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Saif Ali Bepari

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Saif Ali Bepari

Saif Ali Bepari currently works a content writer for Market Size Forecasters, Algosonline, and numerous other platforms. A Computer Science graduate who has a zest for writing over coding, he has previously dabbled into technical and creative writing. He now pens down...

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