Mick Fanning’s craft beer company snapped up by CUB
Craft brewer Balter Brewing Co has been bought by Australia’s largest beer company Carlton & United Breweries.
Launched in 2016, The Gold Coast-based brewer counts surfing champions Mick Fanning and Joel Parkinson among its founders.
The brewery was an immediate hit posting annual growth rates of 60 per cent.
Despite Fanning’s laidback aura, the highly competitive surfer was never going to be happy with just creating a “fun” brand.
“Each and every day you just want to better yourself,” he said.
Balter chief executive and co-founder Ant Macdonald said the takeover would boost Balter’s capacity and drive the next phase of growth.
“We’re a brand which has high aspirations,” he said.
The Balter management team is set to remain, according to CUB chief executive Peter Filipovic.
“What we are looking to do is scale up,” Filipovic said.
Sheridan Randall, 6th December 2019
