Lion to pay up to $25.1 million for "runaway train" Panhead

Fri, 17 Feb 2017

By Paul McBeth Feb. 17 (BusinessDesk) - Lion - Beer, Spirits & Wine (NZ), the local unit of Japanese brewer Kirin Holdings, will pay as much as $25.1 million for its newly acquired Panhead Custom Ales craft beer brand, which the local head has described as a "runaway train". The Auckland-based brewer and winemaker paid $15.1 million in cash upfront for Brand Strong Ltd, the Panhead holding company, and will pay a further $10 million based on earnings over the next four years, accounts filed to the Companies Office show. The contingent co...

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