WTF – Sale Street Brewery, Auckland?????????????????
DB Breweries, a wholly owned subsidiary of Asia Pacific Breweries, has incorporated two new joint venture companies – Barworks Group and Sale Street Brewery.
Barworks is a partnership between DB and JAG Hospitality, a New Zealand bar operator. DB will inject approximately NZ$2.5million for its 60% stake in Barworks while JAG will invest approximately NZ$1.7 million for its 40% share in the company.
For its 60% stake in Sale Street Brewery, DB is investing NZ$528,000 while its partner, Curdall Investments, will pump in NZ$352,000 for a 40% shareholding in the bar and microbrewery on-premise outlet in Auckland.
Les Buckley, regional director of Asia Pacific Breweries, said: “DB’s investment in Barworks and Sale Street Brewery underlines its commitment to generate more value from its business by diversifying its revenue streams in the mature beer market of New Zealand.”