Australia and New Zealand-based brewer, Lion, has acquired a 100% stake in the Huddersfield craft brewer, Magic Rock.
Magic Rock exports to more than 25 countries worldwide and will seek further international growth with the support of Lion. Its priority, however, is to continue to meet rising demand in the UK market by targeting pubs and supermarkets.
Co-founder and managing director Richard Burhouse will remain actively involved within the business going forward.
Richard Burhouse, said: “With the support of the beer community, in eight years Magic Rock has become one of the UK’s leading craft brewers, distributing across the UK, as well as internationally. The best way for us to build on this legacy over the long term is to introduce Magic Rock beers to a much wider audience. We’re excited to be joining one of the world’s best brewing experts under the shared promise to keep making great beer, on a bigger scale, through their knowledge, expertise and investment.”
Lion Global Markets managing director, Matt Tapper, said: “Magic Rock has been one the pioneers in the UK craft beer scene and has built a loyal following due to its relentless pursuit of authenticity and quality. We’re excited to have the opportunity to help Richard and the team build on their success. Lion has a long and proud history in craft beer in Australia and New Zealand and we see some great opportunities to help put Magic Rock into the hands of more beer lovers.”
The modern UK craft market currently represents around a 6% share of UK beer volume and 5% share of global craft beer volume. Lion is already an active player in the UK and Europe, selling a range of Australian and New Zealand craft beers, such as Little Creatures and Panhead, plus New Zealand fine wines.
Matt Tapper added: “Lion is continuing to take a patient, long-term approach to capital investment in international markets to meet the demand for diverse craft beer experiences. The UK continues to be one of the most exciting places in the world to experience craft – and given its cultural similarities to Australia and New Zealand, now is a great time to partner with Magic Rock to invest in building their premium brands and to expand Lion’s presence in that market.”
Magic Rocks joins Lion’s growing UK portfolio, following the July 2018 acquisition of London craft brewery Fourepure Brewing Co.