Parched Brewery enters voluntary administration, brewery for sale
On 29 March 2023, West End Craft Brewery Pty Ltd, trading as Parched Craft Brewery, appointed Anne Meagher and David Stimpson of SV Partners as Voluntary Administrators with the view to selling the business through a structured process.
The SV Partners team are focused on continuing trade as normal at the West End Brewery during the Voluntary Administration and Sale Process and are working with the Director, Carl Hallion and his family to achieve a positive outcome for the business and current workforce.
Mr Hallion felt the time was right to hand over the reins to a new owner and expressed his desire to see the Brewery continue its journey with an injection of enthusiasm and energy required for the next stage of the Brewery’s life.
Opening a new venture is always a huge undertaking and Mr Hallion said the journey had been one of the great experiences of his life, taking three years to bring his passion to life, building the brewery from scratch and brewing his award winning brand of beers.
However, the heavy workload and the extra challenges created by COVID over that time have taken their toll personally, leading to the decision to sell. Consequently, he has sought this avenue to see the business transition to new ownership in a timely and structured manner and with minimum disruption.
“Community support for Parched has been amazing, particularly from the West End locals and I will be forever grateful to those who have visited the venue and enjoyed our Parched brews,” Mr Hallion said. “It is truly a great industry to be a part of”.
The sale of Parched provides a unique opportunity to acquire an operating brewery with production capacity of 200,000 litres per annum using its semi-automatic modern brewery and existing wholesale and retail sales channels. It also encompasses a high-end brewpub with approximately 250 pax capacity and a quality fit out in the ever-growing and eclectic West End of Brisbane. Opportunities like this are not common and will help de-risk a move into craft brewing or a new venue.
The opportunity would suit a broad range of potential buyers including:
- hospitality groups looking to add venues and reduce their cost base through low-cost production of high-quality craft beer, while adding three detached bottle shop licences to their group
- start-up breweries looking to de-risk their build and eliminate the two to three year lead time for approvals, equipment supply and commissioning periods allowing them to step into a high-quality turnkey solution immediately at an attractive price
- existing breweries looking to expand their sales avenues and brands by adding a new venue and move into a vibrant and highly populated area of Brisbane.
The Administrators’ preliminary review of the company’s financial position revealed the company’s major creditor is a related company which has been supporting the development and ongoing trade of the business.
Mr Hallion contacted SV Partners to assist him to continue to trade the business and manage the marketing and sale of the Brewery.
Any parties who are interested in potentially purchasing the Brewery should contact SV Partners as soon as possible on 3310 2000 or email their enquiry to email@example.com.
Under the Voluntary Administration process, a first meeting of creditors is held within eight business days of the appointment, and a second meeting of creditors is usually held within 20 to 30 business days, when creditors of the business will vote on the company’s future.
An initial meeting of creditors of the Company will be convened on 12 April 2023 which will provide creditors with an opportunity to receive an update with respect to the administration.
Again, interested parties for the business should call Paula Smith of SV Partners on 3310 2000 as soon as possible.