Powder Monkey Group Ltd has completed a share placement for more than £750,000 and also acquired an Australian brewing company.
Powder Monkey founder Ben Twomey, chairman Mike McGeever, and chief executive Andy Burdon
The funds were invested in the Gosport-based business by friends and family of the brewing group to fund further expansion and meet consumer demand.
“From the moment we opened our facilities in Priddy’s Hard, Gosport, in 2021, Powder Monkey beer has been flowing for a wide range of customers, has won several SIBA awards nationally, and continues to be the backbone of the offerings in the Tap House,” said chief executive, Andy Burdon.
“We need to significantly increase capacity to meet the growing number of enquiries, both nationally and latterly from international customers. That property search is under way now”
Head brewer Mark Hamblin was selected as runner-up young brewer of the year in the brewery’s first full year. This year, he has been nominated for the award a second time.
And now PMG has acquired the Southern Highlands Brewing Co, based south-west of Sydney in New South Wales, Australia. This all-paper transaction will give PMG the opportunity to not only brew for the Australian market, but also take advantage of the proximity to South-East Asia, utilising existing export licences.
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Ben Twomey, founder and owner of the eight-year-old brewery, said: “This is a perfect deal for SHBC, a merger of two fast-growing, award-winning businesses either side of the world. It allows for the best of both to be combined and grow in both capacity levels and, of course, access additional markets.
“Key to this growth will be the ability to move the brewery and access the profitable retail market in one of the fastest growing areas in Australia, in south western Sydney, as Powder Monkey Taphouse Australia. We are looking forward to seeing our Aussie beers brewed in the UK, too. Very exciting times.”
PMG chairman, Mike McGeevor, added: “This is a momentous day for Powder Monkey, Gosport, and our shareholders. It has been overwhelming the interest shown by individuals in wanting to be part of the future. The group will now grow to both meet the anticipated demands of our customers, and take with us owners who are fully committed in the pursuit of that growth.
“In particular, I would like to express my gratitude to the people of Hampshire who have gotten behind the brewery initially. I also want to thank Ben and Andy and all the teams involved in both organisations for giving us the opportunity to establish the Powder Monkey Group brand internationally and be well positioned to take our fair share of a combined UK and Australian market worth over £25bn.”
» READ MORE: My notes on Powder Monkey beers
