Pay day etc.
Yesterday, the boutique beer world was abuzz with news that the Japanese-owned brewer Carlton United had bought Mick Fanning and co’s Balter Brewing Co.
It was a lovely moment for the surfer-owned-and-created brand which was driven by the skills of “brewing god” Scott Hargrave, formerly of Stone and Wood, and its distinct minimalist branding.
Balter was started three years ago by Mick, Joel Parko, Bede Durbidge, Josh Kerr, Sean Ronan, Stirling Howland, Scott Hargrave and Ant Macdonald.
Forty-six other investors threw in amounts from $A20,000 upwards to be a part of the start-up.
It’s not as if there weren’t a precedent for the little company to be quickly gobbled up by a major brewer, of course. The year before Balter started, Saint Archer, the San Diego boutique brewer of which Josh Kerr was an investor, was sold to MillerCoors for around $35 million after only a couple of years of biz.
According to BeachGrit’s sources, the Balter sale is worth a minimum of $A70 million plus earn-outs at years three and five “with solid targets to hit.”
If the targets are reached, an investor’s $20,000 will get ’em $400,000.
“The head ponies,” says our source, “had a few hundred k in there. Pay day.”
Think four-to-five million sheks.
The two-hundred million figure, said the source, would “only be if they smash the three and five-year earn-outs fully and even then it’s more like 150 mill.”
Meanwhile, the first “major scalp” of camping retailer Kathmandu’s buyout of Rip Curl is about to go down.
More, as they say, when that story comes into relief.
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this should make the hardcores happy. drug dealing is in our dna.
The environment. The grass and trees plowed under. The tremendous water resources wasted. Not stoked about the huge energy consumption. Are they using renewables? Sustainability! Naked capitalist gain. Greedy profit. Surfers’ sellout. All about the money!
Oh, sorry. I thought this was the wave machine forum 🙂
Everything …. corporations with no bodies , gods , money …….
Did Phil Macca get snubbed? Mean.
Q: Who here has actually downed a ‘Balter’? And, how was it?
tastes pretty good, easy drinking for craft beer which is a good idea for turnover rather than trying to win hipster points
I know there are fewer breweries in Australia, but here in the US, you’re drowning in a sea of good-great beers from microbreweries and indie breweries and beers that were once both but are now owned by Sapporo or something. You could wipe out 50% of them and STILL leave us with a giant selection of great beers. I’ve had Balter. It’s fine. The beer bubble must pop soon.
It’s the decentralisation of the industry, wrapped up by marketing as being craft etc.
And this isn’t small business, it’s a bunch of well connected, cashed up semi celebs.
Yes, yes, I know — I’m just shocked that the huge conglomerates think a beer like Balter is so unique it’s worth dumping dozens of millions into.
yeah thats all pretty right, they’re laughing all the way to the bank, good for them!
$A150m is like $10,000 US, right?
A spicy meatball either way.
It’s about 2′.
World Surf League: Dirk Ziff is going to have to earn-out of this one.
If this ain’t the lucky country I’ll put a towel around my head and ride a camel
Capitalism at its most beautiful, I would suggest. Would Greta approve?
Well alcohol is a downer.
So yes I think she would.
These guys are the new light on the hill that every ball bag would-be entrepreneur will now aim for, which in twenty years time will leave us with an economy full bankruptcies and the carcasses of burned out, half arsed business ventures while we scream out for nurses, doctors, tradespeople, office admin workers, gov mandarins etc. in the cold light of day people will realise leaving their well paid, well conditioned secure jobs to follow their side hustle of ‘uber but with unicycles’ probably wasn’t that good an idea.
It’s the neo liberal/capitalist wet dream and they are now the poster boys.
Sorry. On second coffee.
Speaking of uber
Yet to make dime one.
Yet worth billions.
What am I missing here.
An investment opportunity?
Just been banned in London.
Who knows it’s too weird.
Uberexit ….
Uber is an inter subjective entity …. If enough people believe in it , like they do the US dollar or God , or that Uber is worth Billions then it is …. until it is not ?
Na you’re spot on. We don’t need Instagram micro brewers. We need more scum willing to crawl under houses and install ducts and eat arsebestos.
haha I just read that as “eat arse”
You know Mozart wrote a whole song – a party piece for his buds – about eating ass called “Leck mich im Arsch”
https://en.wikipedia.org/wi…
Haha he must have loved a good tongue fucking. What a mad dog.
Fiend! Makes Cardi B seem tame.
Canidae …. the mad dogs and wolves ….. Now Hawaii had the Wolfpak but that Mozart he was a one man Wolf Gang ….. ?
What happens when every Garbo becomes a life coach?
The deros with no internet access and pre-paid Woolies Optus X Lite mobiles will inherit the earth. Mark my words.
Jesus …. ?
They will talk more rubbish?
Nailed it.
Kevin Bloody Wilson comes to mind
Do you F*ck on first Dates
Does your favorite aging surf star own a brewery ….
Well at least they are all still living here and not in Monaco or some other tax haven …. ?
That’s nothing, wait until you see Charlie Medina’s Crying Academy or ADS Poo Stance University valuations…
Adriano has easily the most improved style on tour. Better bottom turn than most, now.
Wins pipe and the title
Full blown legend!
I know, that is why his poo stance university is worth so much, imagine how many people are enrolling in his summer course right at this second…
The Brazzo groms scuttle in like bow-legged little crabs and leave with a snowboard duck stance. It’s a miracle of sorts. Kinda like turning water into piss or something.
Soccer dads are losing their shit and spending their big bucks on it (I heard Lucas Silveira was one of them)
He has gone from having a worse bottom turn than my old man to a slightly worse bottom turn than Silvana Lima. Is this really something we should be celebrating?
A few candidates for the crying academy on insta rn. That place is just made for it.
Exactly!!! I will only LAU about his name…