The Coca-Cola Company says its acquisition of Billson’s Beverages will enable it to expand into the alcoholic ready-to-drink category. Billson’s went into voluntary administration in July last year.
The family-owned company was based in Beechworth, Victoria and had been operating for seven years. Last year it underwent two restructures, laid off half its workforce (100 employees) and “tried everything imaginable over the past six months” to avoid going into administration. But its banker, NAB, enlisted McGrathNicol to review Billson’s finances, capital, and short-term cash flow. The six-week review resulted in McGrathNicol being appointed administrator.
The AFR reported on 4 December that unsecured creditors, including the Australian Taxation Office, were owed about $7.4 million. NAB, which advanced an extra $4 million to the company in February 2024, would be paid all of the $12.2 million it is owed.
Coca‑Cola Vice President of Marketing, ASEAN and South Pacific, Matthias Blume, said they were excited about adding Billson’s to its Australian brands.
“This acquisition allows us to expand in the dynamic and growing alcoholic ready-to-drink category in Australia and aligns with our vision to provide a beverage for every occasion, always keeping the consumer at the centre of everything we do.
“Of course, we know that offering options with alcohol brings new responsibilities for us, and we take these seriously. Our Responsible Alcohol Marketing Policy determines how we responsibly go to market with alcohol brands,” Blume said.
Billson’s was known for creating innovative flavours and creating a community of “flavour chasers”, something Blume said the company wants to build on.
“We are looking forward to expanding on those foundations and bringing great-tasting Billson’s products to even more Australians,” he said.
Billson’s founders, Nathan and Felicity Cowan will continue to produce cordial, soda, and beer under a new brand name, and run their hospitality business in Beechworth.
“We are thrilled to have entered into an agreement to sell the Billson’s brand and ARTD range to a company like Coca‑Cola,” Nathan Cowan said. “We wholeheartedly believe that the brand is in the best possible hands for it to thrive long into the future.”
Felicity Cowan said, “This will allow us to dedicate ourselves to what we love most: the Beechworth venue experience and our historic cordial range. We’ll also have more time to focus on our passion for soda, liqueurs, beer and alpine spring water.”
Coca‑Cola said it has no current plans to expand Billson’s beyond Australia.
The acquisition is targeted for completion on 31 January.
