Moa Brewing Company
A Marlborough craft brewery known for bottled and canned beers, cider, and a history of high-profile brand repositioning.
Last updated August 26, 2026
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Overview
Moa Brewing Company is a New Zealand craft brewery established in Blenheim, Marlborough, in 2003 by Josh Scott, the son of winemaker Allan Scott. The business emerged from the wine-producing region's broader beverage culture and initially drew on a family ownership structure, with Josh and Allan Scott holding equal interests. Its location in Marlborough helped give the brand a regional identity associated with New Zealand ingredients, wine-country tourism, and premium beverages. Moa expanded beyond its original owner-operated scale during the late 2000s and early 2010s. In 2010, investment firms including The Business Bakery acquired a substantial interest. Geoff Ross later became associated with the company and led its transition toward a public-market structure. Moa completed an oversubscribed initial public offering in 2012, at which point the business was valued at approximately NZ$38 million. The flotation provided capital for expansion, including plans for a dedicated brewery, although consenting and negotiation difficulties delayed those plans and led the company to rely on contract production to increase output. The brand became widely discussed not only for its beer but also for its marketing. Some early campaigns used deliberately provocative, male-oriented imagery and language, positioning Moa as a premium drink for affluent, aspirational men. A promotion involving a manipulated 'Low Carb Beers' slogan was criticized as homophobic, while the company's IPO prospectus attracted criticism for its treatment of gender, luxury consumption, and masculinity. A proposed advertising video in 2016 also drew objections from a shareholder concerned about its portrayal of women. These controversies contributed to a public image that was more polarizing than the brewery's product proposition itself. Later commentary described Moa's communication as less overtly provocative and more closely associated with outdoor, hunting, fishing, and tramping themes. Financially, Moa struggled after listing. The company did not report a profit in the years following its 2012 flotation, and its share price declined substantially from the IPO price. The business attempted to improve performance through operational changes, including shifting a significant portion of its range from glass bottles to cans. In 2020 it reported a loss of NZ$1.4 million, and an auditor questioned whether the company could continue as a going concern. These difficulties culminated in the sale of the brewing operation in 2021. Mallbeca Holdings Limited acquired Moa for NZ$1.9 million in 2021 in a transaction associated with Stephen Smith, a former Lion executive who became the brewery's managing director and owner. The former Moa Group retained its hospitality interests, including the Savor business, and changed its name to Savor Limited. After the acquisition, Mallbeca presented the transaction as a rebuilding of the brewery and brand, with an intention to return attention to Moa's Marlborough roots, develop new beers, and re-enter Australia. Moa also announced an arrangement with Foodstuffs for exclusive wholesale, grocery, and liquor-store distribution in New Zealand. Moa remains based in Blenheim and operates a cellar door alongside its brewing activities. Its portfolio has included lager, pale ale, IPA, white IPA, seasonal beers, and cider. The Southern Alps White IPA won Champion New Zealand Beer at the 2018 New Zealand Beer Awards. The current business is privately owned and no longer trades on a public stock exchange.
History
Moa Brewing was founded in Blenheim in 2003 by Josh Scott, whose family background was in Marlborough winemaking. Josh and his father, Allan Scott, initially owned the brewery equally. The company's early proposition combined craft brewing with the premium beverage identity of the Marlborough region and relied heavily on bottled beer. The ownership structure changed in 2010, when two business incubators acquired a combined 70 percent interest. One of the investors was The Business Bakery, founded by entrepreneur Geoff Ross. Ross later became a central figure in Moa's corporate development. Under this ownership and management phase, the brewery pursued a larger commercial footprint and eventually entered the public market. Moa's marketing generated repeated controversy. A low-carb beer promotion was condemned for implying that the product was associated with gay men in a derogatory way. The company acknowledged criticism but did not immediately remove all related online material. Its 2012 IPO prospectus also presented a stylized vision of affluent masculinity, using models, luxury-brand references, and advice framed around male identity. The resulting hashtag and imagery were ridiculed on social media. A proposed 2016 advertisement generated another dispute after a shareholder objected to the treatment of women. Later observers said the brewery gradually moved toward a less confrontational, more outdoors-oriented tone. The 2012 IPO was oversubscribed and valued Moa at about NZ$38 million. Management intended to use expansion capital partly for a new brewery, but resource-consent negotiations delayed the project. Moa instead expanded production through a contract-brewing arrangement. Although the brand retained recognition and won industry awards, it experienced prolonged financial difficulties. Its share price fell from NZ$1.25 at listing to 55 cents in July 2014, and the company reported losses throughout the post-IPO period. In 2020, an auditor questioned the company's going-concern position. Moa's annual report for that year recorded a NZ$1.4 million loss and described a shift from glass bottles to cans as a measure that helped market share. The brewing business was sold in 2021 for NZ$1.9 million to Mallbeca Holdings Limited, an entity associated with Stephen Smith. Before the sale, Moa was part of Moa Group, which had acquired the hospitality company Savor in 2019. After divesting the brewery, the remaining group focused on hospitality and adopted the Savor name. Industry commentary suggested that the transaction price was close to the value of the brewery's physical assets, rather than a substantial valuation of the brand. Following the acquisition, Mallbeca said it intended to rebuild Moa around its Marlborough origins, introduce relevant new beers, and seek a return to Australia. Moa also established a Foodstuffs distribution arrangement covering its beer and cider in New Zealand grocery, wholesale, and liquor channels. The Blenheim site includes a cellar door, which management described as one of the more profitable parts of the operation. Moa remains a privately owned brewery based in Blenheim.
- 2021
Brewing business sold to Mallbeca
[1]Moa was acquired for NZ$1.9 million and returned to private ownership under Mallbeca Holdings Limited.
- 2018
Southern Alps White IPA wins national award
[1]Southern Alps White IPA was named Champion New Zealand Beer at the New Zealand Beer Awards.
- 2012
Moa becomes publicly listed
[1]The brewery completed an oversubscribed IPO and reached an indicated valuation of approximately NZ$38 million.
- 2010
Institutional investors acquire a majority stake
[1]Two business incubators acquired a combined 70 percent of Moa, including investment firm The Business Bakery.
- 2007
David Nicholls joins as head brewer
[1]Former Heineken head brewer David Nicholls joined Moa and remained with the business until 2020.
- 2003
Moa Brewing founded in Blenheim
[1]Josh Scott founded the brewery in Marlborough, initially sharing ownership with his father, Allan Scott.
Products and positioning
Premium New Zealand craft beer rooted in Marlborough, with an emphasis on regional identity, brewing innovation, and cellar-door and retail accessibility.
Lager
Moa Lager
A core Moa lager associated with the brewery's original premium craft-beer positioning. It represents the accessible, mainstream end of the portfolio and has been used as a principal brand reference in descriptions of the company.
White IPA
Southern Alps White IPA
A wheat-influenced India pale ale that combines the hazy, citrus-oriented character associated with white ales with IPA-style hop intensity. The beer is particularly notable for winning Champion New Zealand Beer at the 2018 New Zealand Beer Awards.
Craft beer
Moa craft beer range
The wider portfolio has included pale ales, IPAs, seasonal releases, and other beer styles. Moa's range was historically sold in bottles, while the company later shifted substantial volume into cans to support distribution and market performance.
Cider
Moa Cider
Moa has also sold cider alongside beer. In 2021 the new owners included cider in the Foodstuffs distribution arrangement, making it part of the brewery's retail and wholesale offering.
Controversies
2016
Criticism of proposed advertisement
A shareholder publicly challenged the portrayal of women in a planned Moa video advertisement, extending the brewery's history of controversy over gendered marketing.
2012
Sexist imagery in IPO prospectus
The company's IPO prospectus was criticized for presenting women in sexualized roles and framing the brand around a narrow, affluent model of masculinity.
2010
Homophobic implication in low-carb promotion
Moa faced criticism after a low-carb beer promotion was interpreted as using a slur against gay people. The company acknowledged the reaction but did not immediately remove all related advertising content.
Marketing campaigns
- 2016Proposed video advertising campaign
New Zealand
A proposed video advertisement attracted criticism from a shareholder who objected to the portrayal of women.
Outcome. The episode reinforced existing concerns about Moa's gendered advertising approach, although the source does not establish the final release status of the advertisement.
- 2012Moments of Manhood
New Zealand
The IPO prospectus and associated brand language presented Moa through affluent, aspirational masculinity, with luxury-brand references, gendered advice, and sexualized imagery.
Outcome. The campaign and the #momentsofmanhood hashtag were mocked publicly and contributed to criticism that Moa's advertising alienated women.
- 2010Low-carb beer promotion
New Zealand
A promotion altered the phrase 'Low Carb Beers' in a way critics viewed as a homophobic joke. The campaign became an early example of Moa's deliberately provocative communication style.
Outcome. Moa acknowledged the criticism, but related social-media content remained online for a period and the issue continued to affect perceptions of the brand.
Brand decisions
2021
Sale to Mallbeca and private ownershipM&ABackground
After years of losses and concerns about its financial viability, the brewing arm was separated from the group's hospitality interests.
Action taken
Mallbeca Holdings Limited acquired Moa for NZ$1.9 million, with Stephen Smith associated with the new ownership and management.
Aftermath
Moa ceased to be publicly listed. The new owners announced a brand rebuild, renewed focus on Marlborough, new product development, and a planned return to Australia.
Acquisition price. NZ$1.9 million (2021 sale)
2020
Shift from glass bottles toward cansStrategyBackground
Moa was under financial pressure and was seeking ways to improve market performance and distribution efficiency.
Action taken
The company moved much of its range from glass bottles into cans.
Aftermath
Moa reported that the packaging change helped improve market share, although it still recorded a NZ$1.4 million annual loss in 2020.
Annual loss. NZ$1.4 million loss (2020 financial year)
2013
Use of contract brewing after facility plans stalledStrategyBackground
Plans for a company-owned brewery were delayed by prolonged resource-consent negotiations.
Action taken
Moa increased production through a contract with another brewery rather than immediately completing its planned facility.
Aftermath
The arrangement enabled additional production while the dedicated-brewery project remained unresolved.
2012
Public-market expansion through IPOStrategyBackground
Moa sought capital and a larger operating platform as it moved from a small regional brewery toward national and international growth.
Action taken
The company completed an oversubscribed initial public offering and became publicly listed.
Aftermath
The flotation produced a headline valuation of about NZ$38 million, but the company subsequently reported sustained losses and its share price declined.
Indicative company valuation at IPO. NZ$38 million (2012 IPO)
Sources1 sources
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