Slipstream Brewing's founders, Deale and Elisa Stanley-Hunt, have bought their shares back from Mighty Craft, which they sold to the "craft drinks accelerator" in 2019. The news follows the ASX-listed business announcing plans to sell multiple assets, with the group selling Jetty Road and Hills Cider to a group of publicans headed by former CUB boss, Peter Filipovic late in 2023.
The media release from Deale and Elisa is below.
Media Release: Slipstream Brewing repurchase shares from Mighty Craft
Slipstream Brewing announced today that the company has entered into a binding agreement to repurchase shares from Mighty Craft, solidifying the original founders, Deale & Elisa Stanley-Hunt, as the sole proprietors with 100% ownership.
The transaction, set to conclude by the end of February, will result in the transfer of Mighty Craft’s 45% stake back to the visionary founders. Furthermore, it will settle the convertible note established to finance Slipstream’s successful venue expansion completed in 2021.
The move follows Slipstream Brewing’s successful decision in September 2023, to bring sales and distribution in house.
“We are pleased to announce the acquisition of the shares back from Mighty Craft,” said Slipstream Brewing Director, Deale Stanley-Hunt. “We’re looking forward to continuing the business going forward and shaping the direction of Slipstream Brewing to align with our long-term vision for the brand. We extend our gratitude to Mighty Craft for their partnership and in supporting us to get to this outcome”.
The decision to repurchase the shares demonstrates the founders’ unwavering commitment to the core values and mission of Slipstream Brewing despite difficult market conditions.
“With complete control back in our hands, we're eager to build upon our successes and continue delivering exceptional beer and experiences to our customers. This repurchase reaffirms our dedication to upholding the values that have defined Slipstream Brewing since its inception. We are excited about the future and are grateful for the support of our patrons and partners.”
