Gold Coast craft beer start-up superstar Balter has inked a deal to join the Carlton & United Breweries stable, but stresses nothing will change inside its iconic smiley can.
Founded in 2016 by a bunch of mates including professional surfers Mick Fanning and Joel Parkinson, Balter has enjoyed a meteoric rise to success, as seen in and assisted by its taking #1 spot for the past two years straight in the GABS Hottest 100.
Through its original brewery in Currumbin, now employing 65 people, it has grown to explore distribution around the country. Balter also employs the rather costly process of refrigerating its canned beer before it leaves the brewery and en-route, which is touted as one of the reasons for the brand’s bold flavours.
The contract of sale to CUB reportedly ensures all Balter’s processes remain guaranteed for five years, being recipes, suppliers and methodology, including staying at the Currumbin brewery. The beers cannot be brewed anywhere else.
Key staff including chief brewer Scott Hargraves will also be staying. Balter CEO and co-founder Ant Macdonald says the deal will help them achieve sustainability goals, upgrade both capacity and hospitality at the Gold Coast brewery, and create more jobs.
“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.
“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.”
In recent years CUB has acquired Australian craft labels 4 Pines and Pirate Life.
Local legend Mick Fanning says “we’re stoked” the brand and its ‘not so serious’ outlook has resonated with Australian drinkers.
“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.”
CUB brings the support of size and national distribution. CEO Peter Filipovic suggests they will help manage Balter’s strategic growth, through investment capital, expertise and supply chain (interview below).
Absorbing Balter will bolster CUB’s presence in Queensland, adding to the 250 people employed at its Yatala brewery.
This announcement comes just a week before a decision by the ACCC on whether or not to allow Asahi to acquire CUB for $16bn. Drinks Trade reports CUB currently controls 48.8 per cent of the Australian beer market, and to move under the Asahi banner may require it to shed some brands to gain approval.