Batch Brewing Co, a small Australian brewery, raised $1.5 million in April last year to expand its operations. However, the company’s plans were put on hold due to COVID-19 lockdowns.
Andrew Fineran, co-founder of the company, said that the group had been waiting for its acquisition of the craft beer company, Bucket Boys.
With the acquisition of Bucket Boys, Mr Fineran said that Batch would now have a more robust model across its two entities. It would also be able to pivot its operations depending on the future development of COVID-19.
If the pandemic eventually ended, Batch would be in a strong position in the industry, where more than 650 breweries are operating.
He expected more consolidation in the industry following the prolonged lockdowns in Sydney and Melbourne.
The pandemic had also caused some companies to reassess their positions in the industry, but most of the craft beer brands were still growing at a faster pace.
He said that a venue in Sydney’s Darling Square would be renamed as a Batch venue, while a separate store in the inner city suburb of Marrickville would retain the Bucket Boys name. The two companies’ combined revenue would be around $5 million annually.
The company had planned to expand its retail presence by opening new venues. However, the COVID-19 lockdowns prevented Batch from pushing its plans further.
The company was founded in 2013 by Chris Sidwa and Andrew Fineran. It currently operates from two locations in Sydney.
The distribution part of the industry is also ripe for consolidation, as it provides many opportunities for both new and existing breweries.
Over the past couple of years, several craft beer companies in Australia have been acquired by the country’s two big beer players.
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