Brewer Moa Group to acquire Auckland restaurant and bar Non Solo Pizza

Moa Group has agreed to acquire iconic Parnell restaurant and bar Non Solo Pizza. Photo / Google

Brewer Moa Group has agreed to buy iconic Auckland restaurant and bar Non Solo Pizza in a cash and share deal worth $3.75 million.

Moa will acquire the Parnell restaurant through its subsidiary Savor Group Limited in a deal which is expected to be settled on September 30, according to a statement on the NZX website.

The purchase will be funded through a cash payment of $3.2m and the issue of shares valued at $550,000.

The transaction has the blessing of Moa's bank.

Non Solo Pizza will join Moa Group's growing hospitality portfolio which includes respected restaurants and bars Ostro, Ebisu, Azabu, Seafarers, Seven, Tommy's Champagne Bar, Fukuko and Auckland Fish Market.

Founded in 1996 by Antonio Crisci and Vivienne Farnell, Non Solo Pizza's 150-seater restaurant is renowned for its authentic and relaxed Italian food and spirit.

Moa Group chairman Geoff Ross said he was extremely pleased to acquire Non Solo Pizza, marking another milestone in the company's Beverage and Hospitality brand growth strategy.

"Not only does Non Solo Pizza expand our hospitality business, but it provides an ideal outlet to gain greater brand exposure and increase sales volumes of Moa beer alongside Non Solo Pizza's existing beer partner, while also a perfect venue to test our new products with consumers.

"Together with founders Antonio and Vivienne, we expect to raise the profile of Non Solo Pizza and Moa Group Hospitality and progress our strategy to position Moa Group as New Zealand's pre-eminent beverage and hospitality group."

The acquisition is in line with Moa Group's vertical integration strategy, which aims to have a dual benefit of both strengthening the Moa Beverages brand market position and distributing a greater volume of beverages, while expanding its hospitality presence through a larger portfolio of venues across New Zealand, the company said in its statement.

Lucien Law, CEO of Moa Hospitality, said he admired Antonio and Vivienne's ability to build a loyal customer base and unique position in the market over the past 22 years.

"We recognise the vital role that the founders, and their team, have played in the success of Non Solo Pizza and we look forward to working with them as we welcome Non Solo Pizza to the growing Moa Hospitality group."

Antonio Crisci and Vivienne Farnell said they were thrilled to partner with Moa.

"We know [Moa] will support and build on our vision for Non Solo Pizza. Our whole team is excited to be part of the new partnership and the opportunities it will bring to our restaurant and bar as the place to experience Auckland's best Italian food and service."

Moa Group's shares were unchanged at 30.5 cents.

Business acquisition expenses drove up Moa Group's costs by 11 per cent as the firm reported a full-year loss in May of almost $3m.