Better Beer has released the newest member of its family – ‘Middy’ – a mid-strength beer with an alcohol content of 3%.
With a silver medal in the 2023 Royal Queensland Beer Awards under its belt, Middy is already making waves in the beer scene.
In only 12 months, Better Beer has managed to generate over $55 million in retail sales value and sold more than 10 million litres, making it one of the fastest-growing beer brands in Australia. It also has a massive social media presence, with over 111,000 followers on Instagram.
The company said its decision to introduce Middy into the range was driven by the brand’s desire to cater to a growing market of beer drinkers who are looking for a lower alcohol option without sacrificing taste and quality.
“The mid or low strength alcohol market in Australia accounts for over 30% of all beer sales,” said Nick Cogger, CEO and Co-Founder.
“We definitely wanted exposure in this category as it is the one with the highest retention of consumers, meaning Mid
Strength drinkers don’t venture out of that strength often.”
Middy is available at Dan Murphy’s and BWS stores nationwide from March 30. The mid-strength beer is packaged in 355ml cans.
Better Beer eyes $20m capital raise
Better Beer is currently seeking to raise up to $20 million to achieve its target of producing 50 million litres of beer annually by 2028.
There are already some pretty big names behind the brand, which was launched by Torquay Beverages Co’s Cogger and The Inspired Unemployed comedians Matt Ford and Jack Steele in October 2021.
Ford and Steele each hold a 21% stake in the company, while Cogger owns just under 20% and Mighty Craft holds 37%.
Mighty Craft chief executive Mark Haysman said in a statement to the ASX: “We’ve consistently highlighted the key attributes of Better Beer as a truly unique asset, capable of competing with the leading beer brands both domestically and in New Zealand.
“Already one of Australia’s fastest-growing beer brands in almost a decade, we’re optimistic around the outcome of this fundraising round, particularly as Better Beer continues to accelerate and scale, which we expect will be reflected in our future earnings profile.
“This capital raise will allow it to take on the big national beer brands and continue to establish itself as a company in its own right.”
Categories: New releases