Balter CEO and co-founder Ant Macdonald, Balter co-founder Mick Fanning and CUB CEO Peter Filipovic.
Carlton & United Breweries (CUB) has acquired Australian craft beer producer Balter Brewing Company for an undisclosed sum.
Gold Coast-based Balter was founded in 2016 by a group of childhood friends including professional surfers Mick Fanning and Joel Parkinson.
CUB said Balter’s management team will remain in place “to ensure the business retains its identity and everything else that helped drive its success”.
Balter will join Australian craft brewers such as 4 Pines and Pirate Life within the CUB portfolio.
“We’re proud to have grown the business to this point and we see the benefits this new partnership will bring as Balter enters its next growth phase,” said Balter CEO and co-founder Ant Macdonald.
“This deal will help us achieve our sustainability goals, upgrade capacity and hospitality at our Gold Coast brewery and create new jobs.
“We refused to compromise on our culture or our beer as part of this deal. It’s a testament to CUB that they didn’t want us to. They have an amazing track record of allowing craft brands to thrive while keeping their identity and we’re thrilled to join the CUB stable.”
Co-founder Mick Fanning added: “From day one we’ve tried to not only brew the most delicious beer but create a brand that was fun and inclusive – something the Aussie public would be proud to call its own. We’re stoked Balter has connected so well with Aussies and we can’t wait to continue our journey with CUB and get good beer into the hands of more beer lovers.”
CUB CEO Peter Filipovic said: “In a few short years Balter has become a craft leader through its commitment to quality and by building a brand that appeals to all beer lovers.
“We will help manage Balter’s strong growth through our willingness to invest, our world-class beer expertise and our customer relationships.”
He added: “The deal also means we’re expanding our presence in Queensland, where we already have a significant economic footprint with our Yatala brewery employing more than 250 people.”
In July, AB InBev announced a deal to sell CUB, its Australian subsidiary, to Asahi Group for $11.3 billion.
© FoodBev Media Ltd 2019