Hills Cider Co has been acquired by the consortium, Jetty Road Publican Group, and signed on with Craft Revolution as its new distributor.
The Publican Group is a group of high-profile investors including ex-CUB CEO Peter Filipovic, comedian Mick Molloy, publican and CEO of Riverland Group, Richard Ludbrook. Filipovic resigned as CEO of CUB last year, after almost 25 years at the brewery and Fosters prior to that.
The group acquired Hills Cider and Jetty Road Brewery from Mighty Craft, which is trying to cut its debt levels after a tough year, with its share price falling from 21.5 cents in January 2023 to 1.7 cents in December. Mighty Craft has a 37 per cent stake in The Inspired Unemployed’s low carb beer, Better Beer and in March last year announced a $20 million raise. That has been put on hold. In 2021, it acquired the Adelaide Hills Group for $47 million, which included brands Adelaide Hills Distillery, Mismatch Brewing Co, and Hills Cider.
Filipovic said the distribution deal with Craft Revolution was driven by its desire to grow Hills Cider’s availability.
“Following our recent acquisition of The Hills Cider Co from Mighty Craft, we sought a partner that could accelerate the growth of this well-performing brand, an icon that has put Adelaide Hills on the map in the cider category. Craft Revolution’s wide distribution network and dynamic approach to marketing sets us up for a very successful start to 2024,” Filipovic said.
Craft Revolution’s portfolio includes Naked Life, Estrella Damm, Kona Brewing, Tromba Tequila, Patient Wolf, High West, Nusa Cana and Jetty Road Brewery.
CEO Campbell Speers said, “As Craft Revolution continues to expand its footprint across Australia, we’re thrilled to have the opportunity to represent this authentic cider.
“Craft Revolution is proud to represent one of the few cider producers in Australia that maintain ‘land to hand’ control over their product, with their continuing focus on eco-friendly production practices and waste minimisation.
