AB InBev’s venture capital division ZX Ventures has expanded in the online alcohol retail sector with the purchase of Australia’s BoozeBud.
ZX Ventures has committed capital and resources to allow BoozeBud to increase its investment in its e-commerce platform, product range and logistics capabilities.
The companies said that for consumers it will mean a bigger range, quicker delivery and an improved shopping experience. They added that the continued growth of BoozeBud will put suppliers’ products in the hands of more customers across Australia.
ZX Ventures said that the success of BoozeBud has been “driven by cutting-edge technology that delivers a highly personalised experience for consumers” alongside a business model that engages an ever-growing base of suppliers.
BoozeBud will continue to operate as a standalone business and its founders have committed to running the business for the long term.
Andy Williamson, BoozeBud co-founder, said: “We’re really excited to be working with ZX Ventures to build one of the leading online alcohol sites in Australia. They have a proven track record of investing in and growing leading online alcohol companies globally and the ability to leverage that expertise was a key attraction for us.”
He added: “We’re passionate about supporting Australia’s diverse and growing alcohol market and helping customers discover better drinks.”
Rodolfo Chung, head of ZX Ventures Australia, said: “We couldn’t be happier to be partnering with such an innovative and fast-growing player in the Australian online alcohol market.
“We found in Andy, Alex and Mark great partners that had a combination of technical skills, entrepreneurial ambition and a passion for the alcohol industry.
“BoozeBud is a great fit for ZX’s global e-commerce business, where we’ve been successful in partnering with other entrepreneurs in developing their cutting-edge platforms.
“We want to help them deliver an unrivalled online shopping experience – with the best access to Australia’s rapidly expanding range of craft brewers, wineries and boutique distillers.”
The move continues AB InBev’s expansion in Australia after it purchased craft brewery 4 Pines last year.
© FoodBev Media Ltd 2019