Hairydog acquires Boozebud
Online liquor retailer Hairydog Group has announced the acquisition of former competitor BoozeBud after the latter called in administrators early this month.
In a statement announcing the acquisition, Hairydog said the purchase presents a unique opportunity for both Hairydog and Boozebud.
“Through this acquisition, we’re not just expanding our business footprint, we’re strategically aligning the strengths of BoozeBud’s advanced e-commerce capabilities with Hairydog’s proven retail expertise,” Hairydog Group’s head of e-commerce Ryan Agar said.
“This merger of two brands creates a powerhouse that is set to transform the online liquor retail space to provide better drinks and experiences to our customers.”
The company said the acquisition, which follows its purchase last year of wholesale business S&P Liquor, is poised to take Hairydog Group’s annual revenue past $75 million, “driving incremental profitability and reinforcing its position as a dominant player in the online liquor retail industry”.
“The relaunch of BoozeBud is imminent, with its redesigned website set to go live this coming weekend. To ensure a smooth transition, Damien Smith, the former Chief Technology Officer at BoozeBud, has now become part of the Hairydog team,” the statement read.
Pocko Pty Ltd, trading as BoozeBud, appointed Michael Brereton and Sean Wengel of William Buck as joint administrators, in early May with a statement later posted to its online marketplace advising that the company was no longer taking orders.
Boozebud was founded as BeerBud in 2014, before changing its name to BoozeBud, and in 2018 was acquired by AB InBev’s innovation division ZX Ventures.
After CUB’s purchase by Asahi, BoozeBud was sold back to its founders in 2020.
Hairydog’s acquisition was effective from Friday, 26 May 2023.
The statement contained the disclaimer that Hairydog Group acquired the BoozeBud business from the Administrators of Pocko Pty Ltd and is not liable for any debts that may be owed by Pocko Pty Ltd. Hairydog referred creditors of Pocko Pty Ltd (Administrators Appointed) to the administrators.