Coca-Cola Europacific Partners has sold its stake in Australian Beer Co (ABCo) to Casella Family Brands.
The companies have been in partnership since 2012 when Coca-Cola Amatil signed a deal with Casella to take over its brewing operations next door to the winery in Yenda, near Griffith in NSW. Its contract brewing clients include Mighty Craft’s Better Beer.
Coca-Cola Europacific Partners announced in October that it had decided to exit the beer and cider market in Australia after a strategic review of its operations.
Coca-Cola Europacific Partners vice-president and general manager for Australia, Pacific & Indonesia, Peter West said the decision to sell its interest in ABCo followed a strategic review of CCEP Australia’s arrangements relating to beer and apple cider to focus on its spirits, alcohol ready-to-drink and non-alcohol ready-to-drink portfolios.
“The launch of the Australian Beer Co. joint venture in 2013 was our re-entry into the beer market in Australia,” he said.
“ABCo brewed its own brands at the brewery located next door to the Casella winery in Yenda, NSW. With CCEP’s exit from the Australian beer and apple cider categories in Australia, the decision to sell our interest in ABCo was the natural next step.
“Casella Family Brands is a highly respected partner, and when we approached them as part of our strategic review of our beer and cider strategy, John and his team were keen to explore the opportunity to take full ownership of ABCo. We have had a terrific partnership with Casella Family Brands for almost a decade now and exit on good terms. We genuinely wish them
the very best for the future.”
Casella Family Brands managing director John Casella said: “ABCo is an exciting business led by a state-of-the-art brewery, and we welcomed the opportunity to acquire full ownership. We will endeavor to maintain the excellent relationships the CCEP team has established with customers in the beer and cider category in Australia. We have enjoyed partnering with CCEP to grow ABCo’s business, and we both leave the joint venture arrangement on excellent terms.”.
Casella Family Brands will take over full ownership of the Australian Beer Co on July 1.
Coca-Cola Europacific Partners has also put its craft beer business Feral Brewing Co up for sale, but has yet to secure a buyer.