The late New Zealand beer baron was heir to one of Australasia's most successful brewing dynasties.
The company, which owns distributors CD Baby and FUGA as well as a slew of other music businesses, has held talks with several prospective buyers in recent months.
"Our royalty services team can take on those parts of the process [that] clients would like to outsource," says managing director Richard Leach
The executive, who was previously CEO at CD Baby, will serve as a consultant and advisor for the company through 2024.
The cuts hit the company's CD Baby, Downtown Publishing, Songtrust and DMH divisions with many affecting publishing-related roles.
The purchase of the royalty processing firm is the latest development in the company's efforts to become a service-focused operation.
