Australian craft drinks firm Mighty Craft is set to add the Adelaide Hills Distillery, Mismatch Brewing, and Hills Cider brands to its portfolio through the acquisition of alcoholic drinks firm Adelaide Hills Group, in a deal worth A$47 million ($36 million).
The Adelaide Hills Distillery’s range includes gins and Australian whisky under the 78 Degrees brand name, as well as a range of vermouths and aperitifs. The Hills Cider lineup includes apple cider, pear cider and an apple ginger hybrid.
The deal also includes a 75% ownership stake in the Lot 100 venue, described as a destination distillery, cellar door, restaurant and function centre.
Mighty Craft said the acquisition would allow it to become one of the largest craft spirit producers in Australia and enable it to transform into a scaled alcohol producer, wholesaler and retailer. The combination of the two businesses will mean Mighty Craft’s revenue is forecast to grow by 57% in the 2022 financial year, it added.
“This increased scale and the opportunity to realise significant efficiencies will truly leverage our operating platform and enhance Mighty Craft’s ability to accelerate growth of new and existing craft businesses, as well as consolidating our market position, and making us a real competitor in the craft beverage industry”, said Mighty Craft managing director, Mark Haysman.
Adelaide Hills Distillery’s founder and head distiller Sacha La Forgia added: “We’re thrilled to be part of an incredible team that champions the growth of the Australian craft beverage industry. Their knowledge and team will give us a unique position to grow; not only with our current portfolio but also our emerging whisky offer that will now be part of one Australia’s largest craft spirit producers”.
Source: FoodBev / Food & Drink Business