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Moa to distribute for Lewis Road

NZ Newswire logoNZ Newswire 9/02/2017 Jonathan Underhill

Brewer Moa Group is to partner with Lewis Road Creamery as the dairy products marketer enters the liquor market with its Chocolate Cream Liqueur.

The sales and distribution agreement is the second such partnership after it announced last September a distribution deal with Wellington-based ParrotDog Brewing.

At its 2016 annual meeting, Moa said it would consider distributing "a small set of complementary brands" to "build scale and breadth of offer".

As well as distribution deals it would consider acquisitions, it said.

In September, the company forecast 2017 revenue of $9.5 million to $11m.

On Thursday it affirmed the revenue guidance and said it would provide a further update in April.

Moa has posted annual losses the past three years, although the loss in 2016 of about $3m was down from 2014's $5.8m loss.

Moa shares last traded at 70 cents and have gained 24 per cent in the past 12 months, outpacing a 17 per cent gain in the S&P/NZX 50 Index.

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