ASX-listed Mighty Craft is set to buy drinks business the Adelaide Hills Group, whose brands include Mismatch Brewing, Adelaide Hills Distillery and The Hills Cider Co., for $47 million.
The buyout will also include 75 percent of Adelaide Hills hospitality venue Lot 100, according to The Australian Financial Review.
“Mighty Craft went into a trading halt on the ASX on Wednesday ahead of a proposed capital raising of $29 million at 32 cents per share comprising a placement of $11.3 million and a 1-for-2.75 rights issue,” the newspaper says.
Lot 100 has become one of the places to go in the Hills since opening in Hay Valley near Woodside in 2016.
The venue is also the home of Dave Bowley’s Vinteloper Wines.
Steve Dorman and Tobias Kline launched Hills Cider in 2010.
Mismatch was co-founded by brewer Ewan Brewerton in 2013.
Adelaide Hills Distillery was founded by Sacha La Forgia in 2014, when he was only 18 years old.
These three brands moved into Lot 100 five years ago with Vinteloper and juice producer Ashton Valley Fresh.
The existing Mighty Craft portfolio includes Jetty Road Brewery, Sparkke Beverage Co, Kangaroo Island Spirits and Torquay Beverage Co.
Recent Comments