Coca-Cola Europacific Partners Australia announced it has agreed to sell its interest in the Australian Beer Co. (ABCo) to joint venture partner, Casella Family Brands.

Vice President & General Manager, Australia, Pacific & Indonesia, Peter West, said the decision to sell its interest in ABCo followed a strategic review of CCEP Australia’s arrangements relating to beer and apple cider to focus on its spirits, alcohol ready-to-drink and non-alcohol ready-to-drink portfolios.

“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,” said Mr West.

“Casella Family Brands is a highly respected partner, and when we approached them as part of our strategic review of our beer and cider strategy, John and his team were keen to explore the opportunity to take full ownership of ABCo. We have had a terrific partnership with Casella Family Brands for almost a decade now and exit on good terms,” added Mr West. “We genuinely wish them the very best for the future.”

Commenting on the transaction, John Casella, Managing Director of Casella Family Brands, said, “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”.

Casella Family Brands will take over full ownership of ABCo from 1 July 2022.