Mountain Culture offers investors a taste of craft beer
Craft brewer Mountain Culture Beer Co is looking to leverage industry acclaim and accept outside capital for the first time, putting it within reach of a $70 million valuation.
The company, which brews Status Quo Pale Ale and Cult IPA from a base in Katoomba in the NSW Blue Mountains, has appointed Morgan Shaw Advisory to help with its first external investment round. They are looking to take advantage of its fast-growing sales and several awards.
Mountain Culture’s founders, American DJ McCready and his Australian wife, Harriet, have bootstrapped the brewer sincethey launched the business in 2017, and are seeking a $7 million investment for a 10 per cent stake.
Mountain Culture Beer founders DJ and Harriet McCready are looking for outside investors for the first time.
Mountain Culture’s sales rose to $16 million in fiscal 2023 from just $1.5 million in 2020, generating earnings before interest, tax, depreciation and amortisation of about $2 million. The group aims to lift sales to $25 million this year and earnings to more than $3 million.
The couple started Mountain Culture by renovating an old Civic Video store in Katoomba, which formerly housed local paper The Echo, and turned it into a brewpub. They quadrupled production capacity to up to 8 million litres after opening a new factory at Emu Plains on Sydney’s western outskirts. The founders also took on a large amount of debt, which jumped to $8 million from $2.7 million, to fund its expansion.
Mountain Culture, priced at $24 for a four-pack, and its special edition brews such as Halloween Mixed Packs at $58, has largely evaded the cost-of-living crunch. But input-cost inflation is hitting its margins across the sector.
Liquorland-owner Coles and Dan Murphy’s parent
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