Grumpy's Is For Sale

[DarkFaerytale]

from here:

http://www.grumpys.com.au/phorum/read.php?1,10435

-Phill

 

[Phrak]

Didn't Voosher buy Grumpy's a few months back, or was that just the HBS section?

 

[Adamt]

That was just the HBS.

 

[Darren]

I heard from a reliable source they wanted ~ $1.1-1.2 million for it. Sounds like a lot for a HB shop 8)

cheers

Darren

 

[matti]

It is a restaurant/ brew pub with a HB shop. Darren.
Why don't you put a consortium together.
Mortage you houses and put 2 hundred thou' in.
Only need five or six of you.
My house is not worth that much so count me out.
Good Luck GA and boys in brewshop

 

[jpbirbeck]

I heard from a reliable source they wanted ~ $1.1-1.2 million for it. Sounds like a lot for a HB shop 8)

cheers

Darren

it won't be for the HBS but for the microbrewery and restaurant...

 

[Back Yard Brewer]

from here:

http://www.grumpys.com.au/phorum/read.php?1,10435

-Phill

I am not sure but I think I read something in the public notices section in The Advertiser on the 13th of this month. I am buggered if I can find the paper again. Someone else on the forum may have it.

BYB

 

[drsmurto]

I heard from a reliable source they wanted ~ $1.1-1.2 million for it. Sounds like a lot for a HB shop 8)

cheers

Darren

Powerball is a cool 5 mil this week, change leftover! Buying my ticket on the way home

 

[JSB]

Be hard to compete with the Lobethal Bierhouse up the road.!!!

Cheers
JSB

 

[Chris]

I am not sure but I think I read something in the public notices section in The Advertiser on the 13th of this month. I am buggered if I can find the paper again. Someone else on the forum may have it.

BYB

Yeah my father in law told me, but he coulnt remeber if it was a call from a creditor or voluntary liquidation.
Something must have gone wrong in a big way.

Grumpies is probably ripe to be bought out by an American multi-national and turned into a chain.

 

[T.D.]

Not sure its worth over $1m... that's a lot. Would like to know what its EBIT is. I reckon $1.1-1.2 would be a pretty steep multiple, especially if its in some sort of financial strife... But all of that is speculation at this stage obviously, I'm sure the owners have received advice on the business' value etc.

 

[domonsura]

Don't know about it being worth that much personally, and considering also that the local council and EPA have been busy trying to shoo businesses off that side of the road because of almost yearly flooding from the freeway runoff (and succeeding in getting rid of the gas shop and the petrol station from what I gather), I'm not sure what future the business would have in that location anyway. The powers that be seem to have it in for anything on that side of the road.
Might be a case of relocation of the 'name' of the HBS perhaps if that's possible. Best of luck to Voosher and Brad in any case, they've put a heck of a lot of work in there over the last few months..

I think that competing with the new Lobethal Bierhaus might be a tall order as well.......

 

[Chris]

Do they lease their current premises?

 

[Black Dog Brewery]

Not sure its worth over $1m... that's a lot. Would like to know what its EBIT is. I reckon $1.1-1.2 would be a pretty steep multiple, especially if its in some sort of financial strife... But all of that is speculation at this stage obviously, I'm sure the owners have received advice on the business' value etc.

That price would include Plant and Equipment and possibly stock on hand. I would have thought that the Plant would be reasonable high as it would include kegs, ovens etc etc as well as the brewing equipment and even higher if the property was included

In short, say the Plant was Valued at 500K your EBIT could be as low as $200k (x 2.5 = 500k value). Interest for a 10 year funding would be in the area of 150k per year hence you wouldnt be left with much Take home Bucks. But as you say, without the books its all just guessing however it is possible that this is reasonably priced for what you get as well as it being in financial trouble.

Cheers
BDB

 

[AndrewQLD]

Instead of everyone guessing and going on here say and making uninformed comments, why not get some facts and then post the results.
Grumpy's has been around for a long time, been a boon for new and old brewers and doesn't really deserve to be second guessed.

Cheers
Andrew

 

[tangent]

errr, wasn't the link to a post by the owner?

 

[domonsura]

You are correct Tangent.

 

[arsenewenger]

I agree let just leave it for now its none of our business why GA is selling , heart attacks would be enough for me to walk . Would be sad to see it go dont get there as often as I used to but All the lads GA GT Brad Voosher and Chris helped me well and truly along the way to being able to brew the beers i brew now

So thanks and that is it



Over and Out

AW :beer:

 

[goatherder]

I don't think AndrewQLD was questioning the rumours it is for sale. I think he was referring to the speculation on the financial state of the business - speculation which is probably unhelpful to the current owners.

 

[Boozy the clown]

The Grumpies Mob (and posters) gave me all of my initial advice. AHB was the "cold unfriendly forum" (but they eventually got used to me )

I was one of their regular posters until they went high tech, I couldn't get through my own firewall after that.

Good luck to them, I just hope I can visit before it changes hands.