Argonaut acted as Joint Lead Manager to successfully raise $5.2 million for Gage Roads Brewing Co Limited in 2020, and an A$8.0 million Placement the previous year. Funds from these Placements were applied to strengthen the balance sheet and capitalise on growth opportunities that align with Gage Roads’ growth strategy. Earlier transactions with Gage Roads Brewing Co Limited included a $16 million acquisition of Matso’s Broome Brewery in 2018. Argonaut provided key negotiation and transaction execution support and helped deliver a strategic and highly accretive benefit to Gage Roads shareholders. Argonauts, as Lead Manager to the Placement and Underwriter to the Entitlements Offer, has also successfully raised A$10.1 million for Gage Roads Brewing Co Limited in 2016 to finance the selective buyback of shares held by Woolworths Limited.
Gage Roads Brewing Co Limited (ASX:GRB) is an Australian independent brewery located just outside the city of Fremantle in Palmyra, Western Australia. The company started with a three-piece lineup developed by brothers Bill and John and a couple of their mates, and whose sales made Gage Roads one of Australia’s largest craft brewers. Gage Roads won the title ‘Champion Australian Beer’ for their “Little Dove” craft drink. They were also named as the official beer supplier of the world-class Perth Stadium.
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