Australian Beer producer Mountain Culture has announced its purchase of fellow Aussie beer company Fox Friday from administrators. The purchase will include all of Fox Friday's associated assets, including the brewery's operations in Hobart, Melbourne and Perth, Moonah Hotel & Cellars in Hobart, and Carwyn Cellars.

Since launching their Katoomba brewpub in 2019, Mountain Culture has rapidly expanded its operations. They've opened a production brewery and venue in Emu Plains, established the Village joint venture with Wildflower in Marrickville, and even achieved the GABS Hottest 100 titles for their Status Quo beer. Australian cricket captain Pat Cummins has also joined as an investor, further cementing their success.

Citing "significant financial challenges," Fox Friday owners Benn and Sarah Hooper placed the company into voluntary administration in April this year. This decision came after ASIC launched investigations into their investor and prospective lender, David Anderson, his firm Falcon Capital, and the First Guardian Master Fund.

Following a federal court order, FTI Consulting was appointed as liquidators for Falcon Capital, tasked with winding up both Falcon and First Guardian. The Australian reports that David Anderson's Falcon had extended a $30 million loan to Fox Friday and also made investments in Scott Pickett’s Rogue Traders Group (among other entities connected to Anderson).

Despite the continued operation of all Fox Friday and Carwyn Cellars venues, the announcement led to numerous staff redundancies.

Kanpai!

88 Bamboo Editorial Team