Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Tuatara Set To Grow With New Investor

Tuatara Set To Grow With New Investor

By Hamish Cardwell

Tuatara announce new investor. Left, Tuatara head brewer and co-founder Carl Vasta, general manager and co-founder Sean Murrie, Rangatira chief executive Ian Frame and co-founder Fraser McInnes.

In a sale sealed over ale, Tuatara Brewing Company has announced it has sold a 35 percent stake in the business to a Wellington-based investment company.

Rangatira Limited paid an undisclosed sum for its share which will see Tuatara look to increase exports to the United States and boost production volume.

At the announcement at The Malthouse bar yesterday, Tuatara co-owner and general manager Sean Murrie said the company had been looking out for potential investors for 2 years.

He said in addition to capital Rangatira brought the security, experience, and the organisational structure of a bigger company.

“We are a fast growing company but that has its risks. The skills and the stability they will bring is absolutely fantastic.

The company were keen to boost exports and crack into the US and Australian markets and were hiring additional sales staff, he said.

Tuatara would be also releasing a new bottle in August- glass embossed with a Tuatara spine and skin.

“Overseas you have to have a point of difference.

“It is not enough to make good beer, you have to have something that sticks out,” Mr Murrie said.

Rangatira chief executive Ian Frame said there was a lot of potential for craft beer in New Zealand.

“In New Zealand craft beer has three percent market share while in the United States it is 15 percent. We believe there is good growth prospects in the sector, and we think Tuatara is very well positioned.”

He said Rangatira would provide capital for growth, governance and strategic support.


Ian Frame, Carl Vasta and Sean Murrie

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Season Ends: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news