Beer giant Lion swallows Stone and Wood brewer Fermentum in major deal | domp
Beverage behemoth Lion has continued to grow its stable of Australian craft brewing businesses, acquiring Stone & Wood maker Fermentum in what is being described one of the country’s largest-ever craft beer buy-outs.
Lion is one of Australia’s largest beer companies and a subsidiary of Japanese giant Kirin. It brews mainstream brands such as XXXX and Tooheys and has an extensive stable of other craft beers including Little Creatures, James Squire, and New Zealand brewer Panhead. “We want to grow what they’ve started, giving their people and beers even more reach across the country.”understand it is one of the largest-ever craft beer acquisitions in the country. Fermentum had reportedly been considering an IPO or external investment, with reports from June suggesting the business had been looking for an investment of as much as $150 million.
“Not only did Lion welcome these ideas with enthusiasm, they demonstrated they have similar values and a focus on environmental and social governance aligned to our ‘force for good’ approach.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Victorian pub owner welcomes all – jab or no jab – in viral Facebook postAs the state flags a move towards a 'vaccine economy', Grand Hotel Healesville publican Lisa McKay says she just wants everyone to be able to have a beer together.
Read more »
Hollywood giant Disney silent on JobKeeper as calls for transparency growMultimedia giant Disney has refused to clarify how much it claimed through the JobKeeper wage subsidy program amid revelations workers at the company used the scheme
Read more »
NSW records 1,405 COVID-19 cases and five deaths as premier unveils path out of lockdownNew South Wales has recorded 1,405 new local COVID-19 cases and five further deaths as the state government announces its roadmap out of lockdown for the fully vaccinated.
Read more »
High Court to determine whether media giants were publishers of allegedly defamatory commentsThe High Court will today determine whether media giants were the publishers of allegedly defamatory comments posted on Facebook about former Northern Territory detainee Dylan Voller. The decision could have wide-ranging implications for how news outlets manage social media platforms.
Read more »
Health Minister defends handling of Pfizer negotiationsDocuments released on Wednesday show Pfizer urged the government to move quickly to secure a deal.
Read more »