An iconic Australian gin distillery has been purchased out by a world beverage large for tens of hundreds of thousands of {dollars}.
Four Pillars gin has been snatched up by Lion Group, a subsidiary of Japanese alcohol large Kirin, who took full possession of the corporate on Tuesday.
Lion bought the remaining 50 per cent that it didn’t personal within the firm for a reported $50 million after spending $40 million for half of the business in 2019.
Four Pillars founders Stuart Gregor, Cameron McKenzie and Matt Jones framed the transfer as an “opportunity to take our business to the next level, yet again”.
“Lion has been a wonderful, supportive partner since March 2019; they backed us at every step through Covid, helped us fund our incredible new distillery and allowed us to grow, create and experiment in gin as much as we liked,” they stated.
“This is a great day for our investors (many of whom are staff and old mates) who supported us when we were nothing more than a pipe dream.
“It is also a day where we need to reinforce what we have done and what we will continue to do: make the world’s best gin at the world’s most sustainable distillery while having a whole load of fun.”
Four Pillars was created in 2013 on the outskirts of Melbourne, starting as “a dream to make the best gin we could from the back of a mate’s winery”.
The trio stated that “very little” would change within the “short term”, however have been silent on whether or not the change in possession would create variations sooner or later.
“We very much hope you will judge us, and our new owners, by our collective actions,” they stated.
They additionally introduced that Mr Gregor would depart the enterprise after September whereas Mr McKenzie and Mr Jones keep on.
But not everybody was so constructive concerning the change in fingers, with some followers upset concerning the Australian business now falling beneath abroad possession.
“Congrats for starting from nothing and turning it into such an awesome Business. But very sad to see another great Australian company being bought out by an overseas conglomerate,” one particular person stated after the announcement.
“I have mixed feelings. I prefer to support the small gin distilleries. I wish you all the best,” one other stated.
Source: www.perthnow.com.au
