Coca-Cola Europacific Partners is selling its stake in Australia’s biggest beer joint venture, Australian Beer Co.
The sale of the beer joint venture at Yenda in New South Wales marks the latest step in the repositioning of the company’s operations in Australia.
Peter West, the managing director of Australia for the company, said the sale of the joint venture was part of the company’s strategic review.
The company put Feral Brewing Co up for sale in October as it shifts its focus away from beer to focus on its core soft drinks and coffee businesses.
The decision to sell the company’s stake in Australian Beer Co was part of a strategic review conducted by the company last year.
The company’s re-entry into the Australian beer market was the reason for the joint venture’s launch in 2013.
The Australian Beer Co division, which is owned by the company, currently brews its own brands at its facility near Griffith in New South Wales.
With the exit of CCEP from the Australian beer market, the company decided to sell its stake in ABCo.
The sale of CCEP to the Casella Family Brands was completed on good terms and the company said they would continue working with the CCEP team.
The company, which is known as Casella Family Brands, has been diversifying its portfolio by acquiring high-end wine brands in the past five years.
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