Fri, 04 Jun 2021 | BUSINESS SALE
North Coast Brewing has acquired Wooha Brewing from administrators for an undisclosed sum. Morayshire-based Wooha, which was founded in 2015, experienced “unsustainable cash flow problems” and fell into administration in March. The company cited the impact of COVID-19 on hospitality and licensed trade and the post-Brexit increase in export costs.
Prior to the pandemic, Wooha had experienced rapid growth since it was founded. This, combined with the reopening of hospitality, meant that its brand and assets would have represented an attractive investment when administrators FRP were tasked with marketing them following the administration.
Wooha will now become the latest brand to join the North Coast Brewing portfolio, run by Kenny Webster. North Coast Brewing includes numerous artisan beer makers such as Isle of Skye Brewing Co and Black Wolf Brewing. The business also has valuable links to export, trade and wholesale markets.
North Coast Brewing director Kenny Webster commented: “We are delighted to have secured a deal with FRP and look forward to incorporating the brands and assets of Wooha Brewing Company into our new company, North Coast Brewing.”
“We have ambitious plans to grow and the acquisition provides us with access to high quality production facilities, a range of quality brands and an established network of trade and consumer customers. We hope to restart brewing at our new site very soon and, as the business develops, we hope to create a number of new jobs.”
Iain Fraser, who acted as joint administrator for Wooha alongside fellow FRP partner Tom MacLennan, added: “We wish the management team and staff every success as they integrate the former Wooha Brewing Company into their business model and with their forward plans for further expansion.”
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