(Photo: Billson's)
Last week, the Coca-Cola Company announced the acquisition of Billson's, an Australian pre-mixed cocktail brand that collapsed at the end of July.
In addition to vodka-based flavors like Berry Jelly and Musk, Billson's produces ready-to-drink cocktails in gin, dark rum and whisky varieties. The Beechworth-based brand also sells sodas, liqueurs and beers, though Coca-Cola has reportedly bought only the pre-mixed cocktail arm of the business.
The acquisition comes at a decisive crossroads for the historic brand. Founded in 1865, the brewery was revived by husband and wife Nathan and Felicity Cowan in 2017. Prospects initially looked upbeat for Billson's, which grew from an annual revenue of $400,000 at the time of its revival to over $100 million by 2023. Due to industry headwinds, however, the brand teetered toward bankruptcy and eventually entered voluntary administration in March.
According to The Nightly, Billson's accrued debts of up to $21.3 million and owed the National Australia Bank around $12 million. Coca-Cola has yet to disclose the financial terms of its acquisition.
“We are excited to add Billson’s to our portfolio of Australian brands," Matthias Blume, Coca‑Cola VP of marketing, ASEAN and South Pacific, in a news release. “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.”
The move cements Coca-Cola's reputation as a leader in the pre-mixed cocktail category. The beverage giant has been keen on boozy twists over the past few years, launching a string of retinkered favorites including Topo Chico Hard Seltzer, Fresca Mixed, Minute Maid Spiked and Simply Spiked Lemonade. The company has also collaborated with Bacardi and Jack Daniel's on co-branded canned cocktails.
Coca-Cola says it has no plans to expand Billson's beyond Australia for the time being. The brewery will begin to produce other products under a different name beginning January 31, 2025.
“This will allow us to dedicate ourselves to what we love most: the Beechworth venue experience and our historic cordial range,” Billson's co-owner Felicity Cowan added. “We’ll also have more time to focus on our passion for soda, liqueurs, beer and alpine spring water.”
