Anheuser-Busch InBev’s ZX Ventures division has sold the UK drinks retailer, wholesaler and spirits producer, Atom Group. back to its founder, Justin Petszaft,
The transaction, for an undisclosed sum, comes six years after the start-up investor unit purchased the business, also for an undisclosed fee. In a statement this week, Petszaft admitted the sale to AB InBev had come too early in the business’ lifecycle for it to take advantage of the multinational’s resources.
“In many ways,” he said, “we were and still are much more like a start-up than an established mature business with stable processes which can be easily scaled.”
Atom Group includes online retailer Master of Malt, drinks wholesaler Master of Malt Trade, spirits producer Atom Brands and spirits distributor Maverick Drinks. The company claims that Master of Malt is the “number one online whisky retailer in the world”, while the Atom Brands division produces brands such as Bathtub and Jaffa Cake gins, Rumbullion rum and That Boutique-y Whisky Company.
Petszaft added that he was “over the moon” to be given the opportunity to repurchase his business. “I could not be more grateful to AB InBev for their support over the years, and their unparalleled professionalism and decency in recognising that Atom could only reach its full potential as an independent founder-lead company and facilitating the transition back to independence,” he said.
