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

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