Punctilious Melbournians followed the Premier’s advice to ‘get on the beers’ this weekend, with bars brimming and post-lockdown festivities spilling out onto the streets. The city was abuzz with reunions and smiles, washed down with spritzes and lagers.
A seemingly well timed announcement by beverage company Mighty Craft (ASX: MCL) this morning details more opportunities to get on the alcoholic beverages, with the Company bringing Adelaide Hills Distillery product distribution in-house.
Previously exclusively distributed by SouthTrade International, a partner for the Adelaide Hills Distillery brand since 2018, Mighty Craft is now shifting sales and distribution activities in-house to “maximise available synergies and accelerate growth.”
The move comes after the acquisition of Adelaide Hills Group, announced in June 2021. The business sells approximately 150,000 bottles a year from their various ranges including 78 Degrees Gin and 78 Degrees Whiskey.
Mighty Craft is confident that the 78 Degrees brands have considerable potential for increased growth both domestically and overseas. Alongside 78 Degrees, the Company’s spirits portfolio includes Kangaroo Island Spirits, Seven Seasons, Brogans Way and Hidden Lake Tasmanian Whisky.
The distribution changes for the Adelaide Hills products will take effect in November.
Managing Director of Mighty Craft, Mark Haysman said: “We see great opportunity in transitioning the sales and distribution of 78 Degrees back into the Mighty Craft tean from mid- November. One of the key strategic drivers of the acquisition was our ability to manage sales and distribution directly and we believe bringing in-house will drive growth and profitability over the coming years. SouthTrade has done a fantastic job to grow this business over the last three years, and we sincerely thank Rya Noble and the team for the growth they have driven and productive discussions regarding bringing it back in-house.”
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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