Login | Register
Profile | Log out
logo

  • Home
  • News
  • Opinion
  • Other
    • Market Updates
    • Explainers
    • Satire
  • About
  • Contact Us
    • Contact
    • Get Covered
    • Posting Guidelines
  • Subscribe
Submit An Article

Latest Articles

  • Nanoveu Secures $2 Million to Fast-Track Commercial Launch of ECS-DoT Chip and AIoT Platform
    Nanoveu Secures $2 Million to Fast-Track Commercial Launch of ECS-DoT Chip and AIoT Platform
    • News

  • Archer Unlocks Cryogenic Sensor Breakthrough for Quantum Computing
    Archer Unlocks Cryogenic Sensor Breakthrough for Quantum Computing
    • News

  • EGL Secures $1.9M PFAS Plant Contract as Demand for Clean-Up Technologies Surges
    EGL Secures $1.9M PFAS Plant Contract as Demand for Clean-Up Technologies Surges
    • News

  • RocketDNA Secures Major Aerial Tech Contract with Vault Minerals at WA Gold Site
    RocketDNA Secures Major Aerial Tech Contract with Vault Minerals at WA Gold Site
    • News

  • BirdDog Boosts Buy-Back Offer by 40% Ahead of ASX Delisting Vote
    BirdDog Boosts Buy-Back Offer by 40% Ahead of ASX Delisting Vote
    • News

  • AML3D Launches High-Tech U.S. Facility to Power Submarine Supply Chain
    AML3D Launches High-Tech U.S. Facility to Power Submarine Supply Chain
    • News

  • Vection Enters $520K Agritech Deal to Build AI-Powered Farming Robot
    Vection Enters $520K Agritech Deal to Build AI-Powered Farming Robot
    • News

  • Unith Achieves Strong Growth in Platform Usage and Strategic Partnerships
    Unith Achieves Strong Growth in Platform Usage and Strategic Partnerships
    • News

  • FBR and Samsung Heavy Industries Execute Engineering Service Agreement for Shipbuilding Automation Project
    FBR and Samsung Heavy Industries Execute Engineering Service Agreement for Shipbuilding Automation Project
    • News

  • Bioxyne Lifts FY2025 Revenue Forecast as Psychedelics and Pharma Push Gains Pace
    Bioxyne Lifts FY2025 Revenue Forecast as Psychedelics and Pharma Push Gains Pace
    • News

Mighty Craft to launch Better Beer as Australia’s newest zero-carb beer

  • In News
  • July 26, 2021
  • Alfred Chan
Mighty Craft to launch Better Beer as Australia’s newest zero-carb beer

Fresh from completing their $29 million capital raise last week, beverage company Mighty Craft (ASX: MCL) has confirmed its entry into the zero-carb beer market which will extend its footprint in the healthy alcoholic beverage sector.

The launch of ‘Better Beer’ will be facilitated via a new partnership between social media company The Inspired Unemployed (TIU) and Torquay Beverage Company which Mighty holds a significant equity stake in.

“Health, wellbeing and moderation are key macro trends culminating in ‘better for you’ drinks globally, as is partnering with modern day influencers,” said Mighty Craft Managing Director, Mark Haysman.

“Creating a new business with the Inspired Unemployed guys is both exciting and powerful given their direct reach. This is the first national launch for Mighty Craft in the beer category which reflects the potential with this partnership.

“We are pleased to continue our support for Torquay Beverage Co. Participating in this capital raise means providing the necessary funds to realise shareholder value within Torquay Bev Co in the short term while we build our spirits business, in particular whisky”

The new venture will be 40% owned by TIU and 60% by Torquay Bev Co which is undertaking its own $1.4 million unlisted capital raise to launch the new beer product. As part of the raise, Mighty Craft will contribute $510k and convert $740k of debt to equity which will increase Mighty Craft’s stake from 50% to 61%.

At present, there are very few zero-carb beers offered in Australia with Burleigh Bighead perhaps the most well known, and sold across major retailers at a premium, around $70 per slab.

Seeking to capitalise on the demographic which is easily influenced via social media whose thirst for healthy alcoholic alternatives is rapidly rising, Mighty Craft anticipates Better Beer to be launched by October 2021, in time for Summer.

The zero-carb beer has already received strong support from retail stores with more than 1,500 confirming they will stock the product. It will also become the first national beer launch for Mighty Craft which has primarily distributed products for other brewers.

Factoring in this latest capital raise, it gives Torquay Bev Co a pre-money valuation of $3.6 million with funds raised also to be applied to launching other products behind Better Beer.

“I am very pleased to be strengthening our ties with Mighty Craft. Our partnership with Mighty Craft has been, from the very beginning, one of innovation, productivity and collaboration,” said Torquay Bev Co Founder and CEO, Nick Cogger.

“The Inspired Unemployed guys are also really excited to partner with us and Mighty Craft and together we can’t wait to bring the easy drinking, Better Beer to consumers, one of only two local zero carb, full-strength beer products on the market.”

With the addition of Better Beer and upcoming launches of a boozy, yet healthy, seltzer, Torquay Beverage Company is expecting to deliver more than $5 million in sales for FY22.

Having recently completed their own $29 million capital raise to fund their acquisition of Adelaide Hills Group, Mighty Card is now one of the largest craft spirit producers in Australia.

  • About
  • Latest Posts
Alfred Chan
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
Latest posts by Alfred Chan (see all)
  • Harris Technology to expand refurbished tech division amid rising demand from cost-conscious Australians - April 30, 2025
  • Harris Technology secures major investment from Taiwan’s FSP Technology at 100% premium - March 10, 2025
  • ARC Funds acquires 30% of auzbiz Capital as latest direct-to-investor marketing venture - October 8, 2024
  •  
  •  
  •  
  •  
  • asx mcl
  • beverage maker
  • craft beer
  • Mark Haysman
  • mcl
  • mighty craft
  • nick cogger
  • the inspired unemployed
  • News

Leave a Comment

You must be logged in to post a comment.

  • About
  • Latest Posts
Alfred Chan
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
Latest posts by Alfred Chan (see all)
  • Harris Technology to expand refurbished tech division amid rising demand from cost-conscious Australians - April 30, 2025
  • Harris Technology secures major investment from Taiwan’s FSP Technology at 100% premium - March 10, 2025
  • ARC Funds acquires 30% of auzbiz Capital as latest direct-to-investor marketing venture - October 8, 2024

Login or register for free to access unlimited reading

Register Now!
  • About
  • Latest Posts
Alfred Chan
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
Latest posts by Alfred Chan (see all)
  • Harris Technology to expand refurbished tech division amid rising demand from cost-conscious Australians - April 30, 2025
  • Harris Technology secures major investment from Taiwan’s FSP Technology at 100% premium - March 10, 2025
  • ARC Funds acquires 30% of auzbiz Capital as latest direct-to-investor marketing venture - October 8, 2024
  • News

  • Opinion

  • Satire

  • About

  • Contact Us

  • Subscribe

The content published on this website is solely for general information purposes and is not to be construed as financial advice. Should you seek financial advice you should consult with an appropriately qualified person. Opinions expressed on this site are subject to change without notice and The Sentiment who produced this content is under no obligation to keep the information current. The Sentiment, affiliated companies & associates may have a conflict of interest with companies discussed on the website due to commercial arrangements, for example they may be shareholders in the company, be engaged by them to assist in investor communications or receive commission/brokerage for funds raised.

Copyright © 2020 The Sentiment. All rights reserved.
Subscribe

Enter your email address below to subscribe to The Sentiment’s weekly newsletter, highlighting the top news, research, opinion and satire articles shaping ASX investor sentiment.

The Sentiment respects your privacy and will not spam you. View our privacy policy here.