Coca Cola to sell interest in Australian Beer Co. to Casella

Coca-Cola Europacific Partners Australia announced that they agreed to sell interest in Australian Beer Co. to Casella Family Brands.

Described as one of the world’s top consumer goods companies, Coca-Cola Europacific Partners Australia (CCEP) has over 33,000 employees worldwide, along with 1.75 million customers. 

Towards the end of January, CCEP agreed to its interest in the Australian Beer Co. (ABCo) to their joint venture partner Casella Family Brands (CFB). This came after they made the decision to exit the production, sale and distribution of beer and cider products in Australia. 

The Vice President of CCEP Australia, Peter West, said that the company’s decision to sell interest came about as a result of a strategic review of CCEP Australia’s arrangements which related to beer and apple cider to focus on its spirits, alcoholic and nonalcoholic drink portfolios. 

Peter West commented: “The launch of the Australian Beer Co. joint venture in 2013 was our re-entry into the beer market in Australia. 

“ABCo brewed its own brands at the brewery located next door to the Casella winery in Yenda, New South Wales. 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”

West went on to explain that they regard Casella Family Brands as a highly respected partner and have been partners with the company for almost a decade. Approaching Casella was part of CCEP Australia’s strategic plans for their beer and cider products. 

Managing Director of Casella Family Brands, John Casella, commented, “ABCo is an exciting business led by a state-of-the-art brewery, and we welcomed the opportunity to acquire full ownership. 

“We will endeavor to maintain the excellent relationships the CCEP team has established with customers in the beer and cider category in Australia. We have enjoyed partnering with CCEP to grow ABCo’s business, and we both leave the joint venture arrangement on excellent terms”.

The Coca-Cola website confirmed that Casella Family Brands will be taking full ownership of ABCo from 1 July.