Founder regains control of Master of Malt
The online retailer and drinks brand Master of Malt has returned to its original founder, Justin Petszaft – financial details of the deal have not been disclosed.
In 2018, ZX Ventures, part of the Leffe brewer, acquired the drinks retailing group for an undisclosed amount.
As part of the transaction, ZX Ventures acquired Atom’s three divisions: global e-commerce retailer Master of Malt, UK-based brand creator Atom Brands and distribution arm Maverick Drinks.
The company confirmed that Petszaft has now regained 100% ownership of Atom Group’s assets.
“I am incredibly proud to say we are once again a fully independent and 100% founder-owned business,” said Petszaft. “We can now focus on growing a beautiful ecosystem comprising every link in the premium spirits value chain, which is also open to the rest of the industry as a platform and service provider.
“We want to share everything we’ve learned over the last 25 years building this business from scratch, and make it a little easier for the next bunch of kids in a shed to turn their dream into reality.”
Reflecting on the company’s journey, Petszaft continued: “When I built the first Master of Malt website back in 1999, I had no idea then that I would still be here a quarter of a century later. For years, I was a one-man band, chief cook and bottle washer – and yet, slowly but surely, things began to grow, and in 2009 we built an entirely new e-commerce tech platform from scratch and the company took off.”
In April 2018, the company sought new ownership to drive growth and entered into a relationship with AB InBev: “We went into the AB Inbev relationship with a lot of excitement and energy, and a lot of hope about what could be accomplished together; we felt they were as ambitious and excited by how technology could transform the drink's industry as we were,” Petszaft explained.
“However, despite the progress we made, it eventually became clear that Atom was still too early in its life cycle to fit well within AB InBev and make the most of the resources available. In many ways, we were and still are much more like a startup than an established mature business with stable processes which can be easily scaled.”
Petszaft expressed his delight when AB InBev proposed the buyback. “We spent weeks working on a transition plan. I am deeply grateful to AB InBev for their support, professionalism and recognition that Atom could only reach its full potential as an independent, founder-led company.”
Established in 2015 by the maker of Corona Cero, ZX Ventures' investment portfolio features brands like Goose Island beers, Jamaican Rum Vibes RTDs and the UK-based online beer retailer Beer Hawk.
The incubator invested in Swish Beverages, the producer of Babe canned wines, in 2018 and fully acquired the company the following year. In March 2023, AB InBev chose to discontinue sales of Babe and Hiball, which it had acquired in 2017, to prioritise other brands within the portfolio.
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