Sydney craft breweries, Wayward Brewing Company and Akasha Brewing Company, have been acquired by Powder Monkey Group, an independent hospitality collective with operations across the UK and Australia.
After facing a difficult 2024, with Wayward entering voluntary administration in January and Akasha in March, both companies managed to get back on their feet in the midst of a struggling craft brewing scene.
Akasha and Wayward joined forces in April 2025, uniting their operations while seeking further investment in the new business. Wayward’s production moved to Akasha's site, and the partnership had both breweries sitting within Akasha's corporate structure, while keeping the founders of each company involved.
Powder Monkey’s acquisition of the two breweries has brought Akasha and Wayward together with Southern Highlands Brewing Co. and Willie the Boatman, as well as the growing Powder Monkey brand in Australia and Asia.
Powder Monkey Group's Australian based director, Ben Twomey, said the acquisition was about extending the international 'buy and build' value strategy, as well as creating a sizeable central brewing engine in Australia.
Source: LinkedIn
“High asset utilisation is a key measure which is supported by the multiple brand wholesale businesses,” said Twomey.
The Group said this step supports its global expansion strategy, uniting the brand strength and operational capabilities of five award-winning breweries under a single, independent global platform – adding an additional $5.5 million revenue to the Group turnover.
Dave Padden will be appointed Powder Monkey Australia general manager, overseeing a team of combined talent from the previous independent entities.
“We've always brewed with precision, but now we have a platform to scale that quality. Partnering with Powder Monkey means better beer, broader reach, and more capacity to innovate,” said Padden.
With this acquisition, the combined Australian team will operate from four venues in and around Sydney:
- Akasha's Five Dock Brewery (Five Dock)
- The Akasha Barrel Room (Leichhardt)
- Willie the Boatman's St Peters (St Peters)
- Powder Monkey's soon to be launched Camden facility (Camden)
Powder Monkey Group CEO, Andy Burdon, said Akasha and Wayward are two of the most respected names in independent Australian brewing, and the acquisition was a major milestone for the Group.
“It’s a great day for Powder Monkey Brewing Co and Powder Monkey Brewing Australia,” said Burdon.
“The deal brings together two brands into Akasha's Five Dock brewery for production, and the addition of the Akasha Barrel Room in Leichhardt to our hospitality operations. I am excited about the experience Dave Padden, the founder of Akasha who now heads up our Australian operations, provides to the Group.
“This acquisition brings strength, scale, and storytelling power to our portfolio-and positions us to lead in craft beer not just in Australia and the UK, but across global markets. Cheers to everyone involved in making this happen,” he said.
