Craft brewer Garage Project tops Fast 50 with more than sevenfold sales growth

Wednesday 4th November 2015

Craft brewer Garage Project boosted sales more than seven-fold over the past three years to top the Deloitte Fast 50 awards for the fastest-growing business in New Zealand.

Wellington based Garage Project boosted revenue 664 percent over the past three years, winning the Deloitte index ranking of businesses across a range of sectors who have experienced rapid revenue growth. The top three companies exceeded revenue growth of 600 percent over the past three years, and the top seven reported more than 500 percent growth. The threshold to be included in the index was 194 percent.

Past winners of the index, which was launched in 2001, included dual-listed auction site Trade Me Group, Meridian Energy subsidiary Powershop, and vodka distiller 42Below. Companies on the list to have generated average growth rates of 380 percent include state-owned lender Kiwibank, cloud-based accounting software developer Xero, and skincare products and scented candle maker Trilogy International.

Christchurch construction company Farrell Group was the second fastest growing company this year, with revenue expanding at a 628 percent pace over the three year period, followed by Mad Mex and Habitual Fix owner Mad Group at 603 percent. Bespoke jewellery maker Naveya & Sloane grew at a 552 percent pace and tradespeople recruiter Tech 5 Recruitment boosted sales 545 percent.

Lewis Road Creamery, a household name thanks to its sought-after chocolate milk, was named the 2015 national Rising Star, which is awarded by Deloitte and Bank of New Zealand to recognise early-stage, high-potential companies. Lewis Road Creamery had previously been awarded the regional rising star award for Auckland and the upper North Island. Past winners of the national award include KiwiYo and My Food Bag.

Christchurch-based healthcare and animal care products company Ebos Group, which has generated significant revenue from Australia since its 2013 purchase of Symbion, was awarded the national prize for fastest growing mature business.

Garage Project also took out the national award for fastest growing manufacturer. Farrell Group won the national award for fastest growing services business and Mad Group won the national award for fastest growing retail or consumer products business.

Point-of-sale services company Vend, which was ranked seventh with a three-year growth rate of 504 percent, was awarded the national prize for fastest growing technology business. Compass Agribusiness Management, which provides agricultural and rural business consultancy, was the fastest growing agribusiness, while Auckland-based dairy producer The Collective, which first featured on the Fast 50 in 2011, was awarded the fastest-growing exporter.

BusinessDesk.co.nz

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