New owners confident they can turn things around.
NZX-listed Moa Group is rebranding to a hospitality-only venture and has sold off its loss-making brewing arm for $1.9 million.
As part of the business transformation, Moa will rebrand to Savor Ltd and operate under the SVR ticker from March 1.
Moa hit the NZX in a $16m IPO in late 2012 and operated solely as a brewing company before purchasing the Auckland-based Savor Group of restaurants in early 2019.
In a release to the market, Moa’s board said it recognised the value Moa Beer had brought to the group but it had concluded the best outcome for shareholders was