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Control of Australian company behind Logan Paul and KSI’s Prime drink brand in the hands of administrators
The Australian company behind popular influencer-backed drink brand Prime is now in the hands of administrators.
Ruhe Group’s Alice Fay Ruhe took control of Congo Brands Australia on Tuesday.
The collapse comes amid mounting financial struggles, according to the Herald Sun.
Its most recent financial report filed with the Australian Securities and Investments Commission showed the company suffered a net loss of $1.42 million in 2024, had $7.92 million in unpaid bills, and held $85,000 in cash.
A first creditors’ meeting has been pencilled in for Friday, July 17.
Melbourne-based Congo Brands Australia is the local business behind Prime, which burst onto the scene in 2022, backed by popular influencers Logan Paul and KSI.
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