GSH Agreement to sell its business and assets

Good Spirits Hospitality Limited (NZX: GSH) has entered into a conditional agreement to sell its business and assets for $20,701,400 plus GST to Brew on Quay Limited, owned by Richard Sigley, Geoff Tuttle (CEO of GSH) and Jaime Dutton, who are well known in the hospitality industry, together with Matt Adams (who is a director of GSH).

The sale is subject to GSH shareholder approvals and key supplier approvals from Lion NZ Limited and DB Breweries Limited, and is expected to be completed in the fourth quarter of 2023.

Proceeds from the sale will be used to part repay existing loans to Pacific Dawn.