Coca-Cola Europacific Partners (CCEP) is selling its stake in Australian Beer Co (ABCo) to long-time joint-venture partner Casella Family Brands.
The move follows CCEP’s decision to stop the production, sales and distribution of beers and Magners cider products in Australia and to refocus on ready-to-drink and non-alcohol ready-to-drink portfolios.
VP and GM, Australia, Pacific & Indonesia, Peter West, said the launch of the ABCo joint venture in 2013 marked the then Coca-Cola Amatil Pacific’s re-entry into the Australian beer market. ABCo makes both ciders and beers.
“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,” said West.
The ABCo business brewed its own brand at a brewery located next door to the Casella winery in Yenda, NSW.
John Casella, MD of Casella Family Brands, welcomed the opportunity to take full ownership of the business.
“We will endeavour to maintain the excellent relationships the CCEP team has established with customers in the beer and cider category in Australia… We both leave the joint-venture arrangement on excellent terms.”
Casella Family Brands will take over full ownership of ABCo on July 1.
