Wednesday June 9, 2021

Restructuring Advisory team secures buyer for brewing company

We are pleased to have completed the sale of the business, assets and goodwill of Wooha Brewing Company Limited to North Coast Brewing Co Ltd.

Wooha Brewing Company, which has been acquired out of administration, joins a well-established portfolio of businesses owned by the director of North Coast Brewing Co, including Isle of Skye Brewing Co Ltd and Black Wolf Brewery Limited, together with several artisan beer brands and links with key trade, wholesale and export markets.

The deal, which is for an undisclosed sum, was transacted by our Restructuring Advisory team, led by Partners Tom MacLennan and Iain Fraser.

Isle of Skye brewing has been trading since 1995 and supplies leading supermarkets and pub groups, along with export channels. The business has recently launched ‘Skye Gin’ and sells its products from an onsite shop and online to an expanding retail and trade customer base, predominantly in the UK.

Founded in 2015, Wooha Brewing was pioneering a range of highly distinctive craft beers with eye-catching brand names such as ‘Hop Stampede’ and ‘Jenny from the Bock’. The business had invested in a 16,000 sq ft facility in Kinloss, Morayshire, and was developing its sales both in the UK and overseas.

Commenting on the acquisition, Director Kenny Webster said: “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 Co Ltd. 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. We will keep WooHa’s customers updated via social media.”

Iain Fraser, Restructuring Advisory at Partner at FRP and Joint Administrator said: “We are very pleased to have secured a sale to North Coast Brewing Co Ltd. The businesses associated with the director have a strong record of consistent innovation and Isle of Skye Brewing is one of the most recognisable craft beer businesses in the UK. 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.”