Ross Smith to dispose of Empire interests

Colonial Brewing Co founder Ross Smith's Golden Hind Holdings Ltd will dispose of its interests in Subiaco-based brewer Empire Beer Group Ltd, after what is understood to be a sale to a third party.

Mr Smith played a key role in the establishment of Empire, which listed on the ASX earlier this year.

Golden Hind will retain its options in the company, which are currently under escrow, with the identity of the mystery buyer expected to be disclosed by Friday, March 2.

Mr Smith's company was issued the shares and options in place of the $3.6 million owing from the acquisition of Colonial's Margaret River brewery.

Golden Hind had already been issued 1.7 million shares and 2.7 million options in Empire.