Queensland craft brewer Ballistic Beer Co has been saved from liquidation by a consortium of new investors including Catchment Brewing and Canberra-based LaLa Hospitality Group.
Catchment will take a majority stake in the business with the chief executive Matt Newberry assuming the group CEO role.
Ballistic founder David Kitchen will remain as a shareholder and strategic advisor to the board.
“Ballistic will add value to our portfolio and offer a truly independent Queensland craft beer company with a terrific suite of brands,” Newberry told the Courier-Mail.
Ballistic Hawaiian Haze came in at No.8 on the GABS Hottest 100 Craft Beer countdown in January, the same month it entered voluntary administration, with PKF Melbourne appointed as administrators.
At the time, Kitchen told The Crafty Pint the directors and shareholders were working with “an experienced industry group to put together an investment and restructuring plan” the objective of which is to enable Ballistic Beer to resume normal trading as soon as practicable.
“The present intention is to continue trading. Ballistic Beer is still available online, in venues and at great retailers nearest you,” he said.
Ballistic opened its first tap room to the public at the flagship Salisbury Brewery in April 2017. Since then, the company has opened another four venues, three of which have breweries attached. These venues spread up the east coast of Queensland, located in Brisbane’s West End, Bundaberg and Airlie Beach.
After winning four gold medals just a few months after opening, Ballistic has gone on to win nearly 100 gold, silver and bronze medals at various national and international competitions. Ballistic has won three trophies as best beer in class, been named Champion Large Brewery, and this year, was awarded Champion Queensland Beer for its Coupe de Grace barrel-aged Stout.
Ballistic products are currently available nationally in over 2800 outlets through the National Chains (including Dan Murphys, BWS, First Choice and Liquor Land), at independent bottle shops and through its own venues. The national popularity of Ballistic Beer was showcased in the 2021 GABS Hottest 100 Australian Craft Beers, the largest public beer survey in Australia, where Ballistics’ Hawaiian Haze Pale Ale was voted No.8.
Ballistic is a minority investment for Mighty Craft, which owns 10% of the company. The carrying value of the Ballistic investment on the company’s balance sheet is $2.4million.