# Coopers Take Over



## spog (1/9/05)

evnin, all just saw on the news that fosters want coopers brewing in adelaide. well i was going to let rip,then i read the new posting rules(bugga) so as per the topic description i have posted i guess all i can say is [email protected] off fosters! as a crow eater and a coopers drinker i am totaly against your / the proposed take over/buy up.... :angry: rant over for now!


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## tangent (1/9/05)

Rant on Spog!


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## Spun (1/9/05)

According to the ABC news all ranting should be directed to Lion Nathan


> Lion Nathan has announced it is making an off-market bid for the Adelaide-based brewer Coopers.
> 
> It is offering $260 a share for each class of Coopers shares, valuing the family-owned company at $352 million.
> 
> ...



It sure would suck to see Coopers taken over. :angry:


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## Gulf Brewery (1/9/05)

There was a bit on the ABC TV news a few minutes ago. There is something happening in the courts tomorrow, so lets hope that Coopers win and keep that SA icon here. 

The Business Editor said though like the Fosters / Southcorp takeover, money won out in the end. 

Cheers
Pedro

Who is starting up a Microbrewery


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## Kai (1/9/05)

Eerie. Was talking about that not a couple days ago.


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## neonmeate (1/9/05)

mutterfickende scheisse. cazzo.
well coopers have already done distribution deals with the devil (anheuser-busch) a couple of years ago so i guess we shouldve seen this coming.


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## BrissyBrew (1/9/05)

Coopers Sparkling Ale would be one of the few styles that I could say is somewhat Australian (yes I am aware of the origins but those still brewing sparkling ale on a commercial scale is coopers).


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## big d (1/9/05)

it would be a crying shame to see such a great s.a icon bought out by someone else.
can just see the pale ale bottle change shape and a gold label stuck on it.the new crown. :blink: 

cheers
big d
ex pat croweater


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## big d (1/9/05)

if they close the west end site can you imagine the dollar value for the land to be re developed into inner city dense highrise apartment style living.
millions on offer


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## vin (1/9/05)

Wally, the liquor industry rumors you mentioned regarding the sell off of the Thebarton site have been around since 1993 when Lion Nathan had settled into their new business aquisition. I was an long time SA Brewing production employee at the time and took the last of the redundancy packages offered. Since then a large slab of the site has been sold and developed along the southern boundary, formerly the employee capr park for the 700 odd previous employees and the old Adelaide Botltle Company yard. As for the latest litigation regarding first right of share purchase before the courts - you need think back to the owner of the old 'pick axe' brand bottle and who actually owned the Adelaide bottle company - that was part of the SA Brerwing site. I believe there were 3 owners, The SA Bottle Company, Coopers Brewery, and SA Brewing(now Lion Nathan). From memory, when the Adelaide Bottle Company was wound up, it involved a complicated allotment of ownership shares with sticky strings attached for all 3 parties. Watch the coming court ruling, it should be very interesting.

As for a take over of Coopers - you have to remember that its a private company and the shares are not listed for trading on any exchange, or governed by hostile ASX aquisition rules, so there's not a lot the predator can do other than make an offer and hope the target accepts.

Interesting times. Coopers could come out of this a private national icon and not just a perocial SA icon.


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## PostModern (1/9/05)

I don't know anything about Adelaide Real Estate but I have to hate the notion of the loss of a brewing icon for the sake of a few extra bucks on a multinational's bottom line.


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## tangent (1/9/05)

Heaps of classic businesses are slowly leaving the city area around Adelaide and moving out to the outer burbs, just like Coopers did.
Have a look at the bloody awefull Kent Town Brewery redevelopment. Looks as "Heritage" as a HipHop artist.


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## buddingbrewmaster (1/9/05)

Surely whoever bought out coopers wouldn't change the sparkling ale. That was the first beer i had that i truly liked, it was the one that got me interested in beer (for it's taste)  After coopers all those CUB beers tasted like p*ss :angry:


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## Weizguy (1/9/05)

I reckon Coopers will sell out.
Maybe not this time, but $oon!

Will miss the beer, but will be happy to replicate the Mash Paddle winner as a better substitute.

Personally, I reckon the value provided for Coopers is a significant under-valuation.

Surely the company posesses massive goodwill, worth multi-millions.

I'd participate in a Coopers Sparkling purchase campaign to support the company, especially if it's at their request.

Crikey, I couldn't see the point of going to Adelaide if Coopers goes down to the megalopoly...at least not until the Gulf Brewery comes online.

Still keen for a National AHB meet&greet at the Gulf opening. Reckon we could get some publicity too!

If keen, U should go check out the Gulf Brewery thread

Seth out


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## pbrosnan (2/9/05)

Hi All,

Who are the Coopers shareholders anyway (as they're not a listed concern)? A previous post talked about a 2003 buy back but who were they buying back from?


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## Mercs Own (2/9/05)

I have spent many hours drinking with Glenn Cooper and the other boys and one of the things they absolutely pride themselves on is being a *family owned company.* They use it in their speak all the time and in their advertising. I doubt very much that they would sell out - never say never but part of what makes them the company they are is Family Owned.

I dont think we need to worry - especially as things are going very very well for them!


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## PostModern (2/9/05)

I think you could see the temptation. $357 million! Just depends on what the family wants, a brewery or a couple of small island nations.

It would be good if Lion Nathan bork up the contract and leave out a the non-competition clause. The family could take the millions and start up a new brewery...

dreamin'


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## warrenlw63 (2/9/05)

Be sad to see them sell out.  

Mind you I think the day will come eventually, every man has his price. <_< 

Seems less of an issue these days. IMO The beer (sparkling ale) is a mere shadow of it's former self.

First tried it in 1982. Doesn't even hold a candle these days. It's becoming more and more like a fruity mainstream lager with some sediment thrown in for a bit of visual individuality. :angry: 

Bring back the hand-grenade stubby! :beerbang: 

Warren -


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## Trough Lolly (2/9/05)

There's another side to this, that's been mentioned on our club email digest and I quote...



> I cynically must ask if it is Cooper's brewing facilities that they are after. Cooper's is a major producer of malt extract. Lion Nathan own Maltexco, a major NZ producer of malt extract. Now, whilst a decent amount of malt extract gets packed into cans with some iso-hop drops for that "just like you buy" taste the majority of malt extract goes to the food industry.



Hmmmmm...this may get interesting! h34r: 
TL


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## MAH (2/9/05)

OK I'm going to be the lone dissenter. I couldn't give a fat rat's arse if Lion Nathan bought out Coopers. I don't think their beers are all that special. In the late 80's and early 90's I drank loads of Coopers at the Austral and the Exeter, but this had more to do with being a uni student trying to be different to everyone rather than a real desire for the beer. We were just rebeling against West End and Southwark drinkers.

Now I basically avoid Coopers, however recently I tried both the Pale Ale and the Stout. I thought the Pale Ale was thin, lacking malt, too sweet and under bittered. The Stout also lacked a lot. It didn't have enough roasty notes and was also thin and lacking a decent malt profile. Their so called Mild is even worse. I've also had their Vintage off tap. What a cash in this was. The bottled version is not bad, but the keg version is again a thin watery poor imitation.

If Lion Nathan take Coppers over and change the beers, so what, it's not like their anything worth saving. 

Coopers = over rated.

Cheers
MAH


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## PostModern (2/9/05)

I don't think it's the brewing hardware LN want. I thought it would be to acquire the brand and to remove any quality competition so that the next generation of Australian beer drinkers will think bland is the only way beer can be. 

Good point about the extract operation. They sell a lot of kits OS, too.


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## Kramer (2/9/05)

I just heard on the news on the radio that coopers is telling their shareholders not to sell their shares at the moment!


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## troywhite (2/9/05)

and in even more up to date news

http://afr.com/articles/2005/09/02/1125302719444.html

part here...
"Coopers' court win against Lion
Sep 02 11:13
AAP

The board of Coopers Brewery will mee
t soon to consider the implications of a court judgment on Friday morning regarding a hostile takeover bid by Lion Nathan.

In the South Australian Supreme Court, Justice John Perry ruled in favour of Coopers' bid to remove a clause from its constitution that gave the trans-Tasman brewer first right to buy its shares."


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## Doc (2/9/05)

Looks like LN already own part of Coopers. 



> Coopers is a privately held company that has just 117 shareholders.
> 
> Lion Nathan already holds a 19.9 percent stake in Coopers, and said some of its other shareholders have approached Lion Nathan recently regarding an offer.



Will be interesting to see what the Coopers board thinks is in the best interest of the company.

Beers,
Doc


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## Kai (2/9/05)

MAH said:


> OK I'm going to be the lone dissenter. I couldn't give a fat rat's arse if Lion Nathan bought out Coopers. I don't think their beers are all that special. In the late 80's and early 90's I drank loads of Coopers at the Austral and the Exeter, but this had more to do with being a uni student trying to be different to everyone rather than a real desire for the beer. We were just rebeling against West End and Southwark drinkers.
> 
> Now I basically avoid Coopers, however recently I tried both the Pale Ale and the Stout. I thought the Pale Ale was thin, lacking malt, too sweet and under bittered. The Stout also lacked a lot. It didn't have enough roasty notes and was also thin and lacking a decent malt profile. Their so called Mild is even worse. I've also had their Vintage off tap. What a cash in this was. The bottled version is not bad, but the keg version is again a thin watery poor imitation.
> 
> ...




I was a regular drinker of Coopers beers before I got settled into the home brewing caper. I will still hit the pale ale tap when I'm out on the town nowadays, but it's not the favourite it used to be.

I can't really comment on whether or not it has gone downhill, as my perceptions have changed so much over the past few years. However, consistent between then and now is that I do think Coopers Pale remains a superior beer to its other megabrewery equivalents. 

I agree that it's a bland beer, but I still do get nice flavours from it, and the flavours vary. I don't mind a bland beer, what I don't like is a bad beer. I've had bad coopers beers, but never to the same regular consistency the bad beers I've had from other domestic megabreweries. I don't notice any subleties of flavour in West End, for example.

I really don't know whether a takeover would be a bad thing for Coopers beers, or whether they would change at all. What I don't like is the notion of more beer being controlled by fewer entities, and I'd be dropping my already dwindled consumption of Coopers to zero if they were bought out, just on that principle.


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## Boots (2/9/05)

Well said Kai. Pretty much sums it up for me.


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## Sean (2/9/05)

Kai said:


> I really don't know whether a takeover would be a bad thing for Coopers beers, or whether they would change at all.


The beer might stay the same in the short term, but I doubt it would in the long term. Large breweries never manage to sustain an interest in quality for long - a quick look at the brewery takeovers in the UK and Europe shows that.


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## voota (3/9/05)

MAH said:


> OK I'm going to be the lone dissenter. I couldn't give a fat rat's arse if Lion Nathan bought out Coopers. I don't think their beers are all that special. In the late 80's and early 90's I drank loads of Coopers at the Austral and the Exeter, but this had more to do with being a uni student trying to be different to everyone rather than a real desire for the beer. We were just rebeling against West End and Southwark drinkers.
> 
> Now I basically avoid Coopers, however recently I tried both the Pale Ale and the Stout. I thought the Pale Ale was thin, lacking malt, too sweet and under bittered. The Stout also lacked a lot. It didn't have enough roasty notes and was also thin and lacking a decent malt profile. Their so called Mild is even worse. I've also had their Vintage off tap. What a cash in this was. The bottled version is not bad, but the keg version is again a thin watery poor imitation.
> 
> ...




Piss off that the stout is thin. It is imho the fullest beer on the Australian market these days. Yes, coopers is becoming more and more trendy and mainstream. But the stout is a winner.


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## Murray (3/9/05)

voota said:


> MAH said:
> 
> 
> > OK I'm going to be the lone dissenter. I couldn't give a fat rat's arse if Lion Nathan bought out Coopers. I don't think their beers are all that special. In the late 80's and early 90's I drank loads of Coopers at the Austral and the Exeter, but this had more to do with being a uni student trying to be different to everyone rather than a real desire for the beer. We were just rebeling against West End and Southwark drinkers.
> ...



Agreed, it is far and away the best Australian stout I've had the pleasure of trying.


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## Gulf Brewery (3/9/05)

Had a quick scan of the "Advertiser" this morning. Apparently the Lion Nathan Brewery at Thebarton is only 50% utilised. Would be interesting to see happen to the Coopers brewery if LN were to succeed as the Coopers one has a lot of new brewing gear. I think the chance of LN succeeding is not high.

Cheers
Pedro

PS Anyone want to do a bulk homebrew batch on LN gear? I am sure that with their excess capacity we could go in there as a group and do a bath


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## tangent (3/9/05)

I heard that a private school in ADL has almost 20,000 shares in Coops and that the massive extra windfall would be too good to resist.

This is going to be more exciting than any federal election. I can't wait to see what happens, but I have a squeemish feeling about it. Actually the same feeling I had when they moved from leafy Leabrook, kinda sick and a bit sad. But kinda proud of the local family company at the same time.


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## MAH (5/9/05)

voota said:


> Piss off that the stout is thin. It is imho the fullest beer on the Australian market these days. Yes, coopers is becoming more and more trendy and mainstream. But the stout is a winner.
> [post="75154"][/post]​




Voota and Murray

I drank the stout off tap recently and it was thin as. Haven't had a bottled version for a while so can't comment. I think Mountain Goat Surefoot Stout craps all over Coopers STout. Now that beer has some body!

And I agree with Kai that Coopers is better than the other Adelaide megaswill, but when the bar is set so low, you don't have to jump too high to take the gold.

Cheers
MAH


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## GMK (5/9/05)

IMHO I think the SHeaf Stout and Southwark Stout are better.

Flame Suit on...


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## warrenlw63 (5/9/05)

GMK,

No need for flamesuit. IMO Southwark Stout is great stuff. Personally I prefer it to Coopers.  

Warren -


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## Bobby (5/9/05)

sheaf, no way. but yeah i prefer southwark too.


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## Uncle Fester (6/9/05)

Coopers hanging in there...

Weblink


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## Doc (9/9/05)

And they are off to court.
Full story here

Beers,
Doc



> *Brewery's takeover bid goes to court*
> 
> 09.09.05
> By Michelle Dacruz
> ...


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## Murray (9/9/05)

No worries MAH and other people with different opinions. I haven't tried the Stout on tap, so I can't comment on that. As for it not being as good as it was, since when is anything


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## Gough (9/9/05)

Murray said:


> No worries MAH and other people with different opinions. I haven't tried the Stout on tap, so I can't comment on that. As for it not being as good as it was, since when is anything
> [post="76212"][/post]​



I still prefer the Cooper's and the Sheaf to the Southwark. My last bottle of Southwark (2 months ago) was so sweet I almost couldn't finish it  Maybe I got a dud... Goat Stout isn't bad, but I still have a soft spot for the Cooper's...

Shawn.


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## Samwise Gamgee (9/9/05)

> IMHO I think the SHeaf Stout and Southwark Stout are better.



I agree! I prefer Sheaf over Coopers, i don't think I've had Southwark before  ......better go get some


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## mikem108 (9/9/05)

This has turned into a "which is the best aussie stout " thread


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## voota (9/9/05)

MAH said:


> voota said:
> 
> 
> > Piss off that the stout is thin. It is imho the fullest beer on the Australian market these days. Yes, coopers is becoming more and more trendy and mainstream. But the stout is a winner.
> ...




Mah, not meaning to have a go at you again, but i disagree that mountain goat stout has more body than Coopers Stout. Mountain goat make some decent beers (and I know I should be behind them, being a Victorian), but imo their stout is fairly weak, unbalanced, and has an average malt profile. Its not bad, just feels a little rough. And as i've said, has nothing on Coopers. I also agree with the general consensus that Southwark is a nice drop, just as good as Coopers imo, but a little harder to come by in Victoria.
I think once you get over the novelty factor of Mountain Goat, their beers are just decent beers, and not much more. 
As with the other coopers beers, I agree, they are good compared to the competition and that is about all. 
Also as Murray said, you are entitled to your opinion,

, Voota


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## Mercs Own (9/9/05)

The only reason a brewery drops the alcohol content is to produce a cheaper beer. Less alc equals less malt equals less cost. Guiness have done it a couple of times over the last 18 months and it is now down to 4.1. When I worked at the bottle shop last xmas people were coming in buying tooheys red thinking it was a bargin at 24.99 a case. What they didnt realise was that the alc had droped down to 4. something - I think around the 4.1 when it originally came out at 4.7 or so. Forgive me if I am out on the figures but I am sure you get the idea! If Coopers have dropped the alcohol level on the stout it is so that it is cheaper to produce. The fact that they now sell the beer cheaper than ever maybe has pushed them to it but I would rather pay $16 a six pack for the original recipe!!!!

For the record I have always enjoyed the Southwick Stout which I think was also up around the 6.8?? Swan stout was good too but then when you looked at the bottle you saw that it was made by Coopers!


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## Mr Bond (9/9/05)

I'm with MAH, and wally on this one.
I purchased a long neck of coopers stout a couple of months ago and was dissapointed by the body and mouthfeel,lacked that good old oilyness with a satisfying finish for me.As with all coopers ales they promise more in malty aroma than they deliver in the flava and mouthfeel.

Maybe its just my HB adjusted palate,but all commercial beers seem to lack body,and substance.

I have made tastier extract based stouts with the reculture from a coopers sparkling than the current commercial version.

Its been at least 10 years since i had a southwark stout,and I hav'nt had a m,goat stout yet so i might just toddle off to the bottlo in the next coupla days to purchase a couple.
 Thanks for stimulatin the old taste testing gene everyone(yeah mike is right its a hijack alright)

B is for brauluver, B is for BORK :excl:


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## tangent (9/9/05)

I'm a big Coopers man, but the Coops stout is too dry, almost like they sparged with boiling water, all i can taste is "freshly dug dirt" also the same taste i get from that bloody aweful Squire Amber Ale.
Southy Stout is slightly better IMHO etc.


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## joecast (15/9/05)

the email below was posted on BA about supporting coopers. thought id add it here as im sure most people want them staying family owned. 
this may help in filling lion nathans inbox, but if they arent checking ahb, then they dont have their finger on the pulse of australian craft beer (well, at least the hombrewing part)!!!
joe



Dear All,

You may be aware that Lion Nathan has launched a hostile takeover bid for Coopers Brewery. With the family owned Coopers Brewery being the only remaining significant independent brewery left in Australia, to have it consumed by a corporate like Lion Nathan, turning 145 years of history into just another brand in a long list is an absolute tragedy.

Please show your support for Coopers by buying a six-pack this weekend and consuming a beer that has been brewed by the same family for six generations. Either a Coopers Pale Ale or a Coopers Sparkling Ale will show you why this brewery must be saved.

Please send this email to everyone you know (and between you all you know a lot of people!), and cc to the following address which is the Lion Nathan customer service address. They do get the mails and they do read them, I have already had a very pleasant call from the Corporate Affairs Director in response to emails I have sent so far.

[email protected]

Brenton Edwards
PO Box 2
LYNDOCH SA 5351
Coopers Club member 08508


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## Murray (16/9/05)

I'll just stick to the carton of sparkling in the fridge. I've done my bit


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## peas_and_corn (16/9/05)

Well, when I heard about the takeover bid I didn't think it would go through. I'm sure people will buy less of it if it's not SA family owned.


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## Mr Bond (17/9/05)

On the flipside,Coopers is sure getting a lot of free mainstream media exposure of late(helpful I'm sure).
They don't do big budget TV adds ,and I've only ever seen billboard and bus advertising in Adelaide,so all the copy in papers is priceless and will help their cause :beer:


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## homebrewworld.com (17/9/05)

Give me a Sheaf Stout over a Coopers Stout anyday............
Give me a Coopers Sparkling Ale over the Coopers Pale Ale anyday............
Coopers shnoopers,
Homebrew everyday !!!!!!!!!!!!!!!


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## peas_and_corn (17/9/05)

Well, I don't think the takeover will be successful at all, despite all the PR going around... Ahh, Coopers.


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## Trough Lolly (20/9/05)

This just in on the news wires:

Print Email 
Last Update: Tuesday, September 20, 2005. 3:00pm (AEST)
Trial looms in Coopers shares fight

A Supreme Court judge has warned that a battle over control of almost 9 per cent of South Australian family brewery Coopers could soon head to trial.

Mary Phyllis Henderson wants control of 114,000 Coopers shares that were part of a family will almost 15 years ago. 

In the Supreme Court today her lawyer, Lindy Powell, indicated Mrs Henderson could stand to gain $30 million if she sells the shares to Lion Nathan.

The Public Trustee and three members of the Coopers family are battling to prevent that from happening.

Justice John Perry adjourned the matter until later this week but warned all parties he was likely to set the matter for trial.

Also in the Supreme Court today, Lion Nathan won its right to appeal against a recent judgement that crippled its bid to gain control of Coopers.


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## Murray (20/9/05)

I guess she is off the Christmas card list then.


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## Trough Lolly (20/9/05)

And definately off the Xmas Case list!!!

Let her drink Tooheys!


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## Jazzafish (20/9/05)

Hate to see another brew spoiled by a cut corner profiteer


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## Jazzafish (20/9/05)

Yes I have Coopers next to my own brew... and it isn't only for the yeast culture!


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## spog (20/9/05)

bit like having a will read,everyone wants their piece of the pie. nothing like the smell of money to turn people into @#$^holes :angry:


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## peas_and_corn (22/9/05)

Yeah, but Coopers will still be majority SA... let's hope lion nathan gets incredibly little... hopefully nothing.


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## Trough Lolly (23/9/05)

*Coopers' approach to sale attacked* - September 23, 2005

Lion Nathan has attacked the board of its takeover target, Coopers, over what it says is Coopers's "unusual" approach to the sale of its shares. The big brewer has made a $352 million bid for Coopers at $260 per share. Coopers has rejected the offer as opportunistic.

In the past few weeks the two companies have been arguing over a pre-emptive rights schedule which determines the process of selling the shares, the order in which they are made available to buyers, and a fair value for them if the the seller and purchaser disagree on price.

Under the Coopers constitution, shares must first be offered to another Coopers shareholder or relative, then to AMP or any other Coopers employee superannuation fund, and then to Lion Nathan.

Lion Nathan said the Coopers board thought it could determine who the shares were sold to. It also said the board thought it did not have to sell to a shareholder willing to pay the best price.

"Coopers has advised the [Takeovers] Panel that it considers that the board of Coopers has a discretion as to whom it seeks to have the shares sold to under the pre-emptive rights regime and that discretion does not require it to have the shares sold to a purchasing member who is willing to pay $260," Lion Nathan said in a letter to Coopers shareholders yesterday.

Lion Nathan chief Rob Murray said in a separate statement that this seemed "extraordinary" and "surely not in the best interests of all shareholders". "Given that many members of the Coopers board themselves hold shareholdings, it certainly seems an unusual governance arrangement."

Coopers was not immediately available for comment.

Earlier this month the South Australian Supreme Court allowed Coopers to ask its shareholders to remove Lion Nathan's pre-emptive rights.

Shareholders are yet to vote on the move but Lion Nathan is appealing against the court ruling.

Lion Nathan gained the rights in 1995 in exchange for a 19.9 per cent stake in Coopers that Lion Nathan held after buying South Australian Brewing Co.

AAP


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