- Mighty Craft (MCL) signs a binding agreement with DB Breweries and Better Beer Company to distribute Better Beer in New Zealand
- The beer is expected to launch in October 2022, in time for the peak trading period over summer, the company says
- Phase one of the agreement will involve the product being manufactured in Australia and sold into New Zealand, whilst phase two will involve local manufacturing in New Zealand
- The start date of the distribution and manufacturing agreement in phase one will run until March 31, 2023, and the second phase will run from April 1, 2023 until March 31, 2024
- Shares in Mighty Craft end the day up 2.86 per cent, trading at 18 cents
Mighty Craft (MCL) has signed a binding agreement with DB Breweries and Better Beer Company to distribute Better Beer in New Zealand.
The beer is expected to launch in October 2022, in time for the peak trading period over summer, the company said.
Phase one of the agreement will involve the product being manufactured in Australia and sold into New Zealand, whilst phase two will involve local manufacturing in New Zealand, expected to be during the first quarter of 2023.
The commencement date of the distribution and manufacturing agreement in phase one will run until March 31, 2023, and the second phase will run from April 1, 2023 until March 31, 2024.
MCL Managing Director Mark Haysman said New Zealand offered the country an incredible opportunity to grow the Better Beer brand on an international scale.
“It is a large beer market with approximately 298 million litres sold annually.
“DB Breweries has extensive sales, distribution, and brand building capability and owns some of the most iconic beer brands in the country, including Heineken.
“This deal reinforces the massive achievement of the Better Beer team in launching its ground-breaking brands into Australia.”
DB Breweries Managing Director Matt Wilson re-iterated Mr Haysman’s sentiments and is excited about the potential of Better Beer in New Zealand.
“The brand taps into numerous key consumer trends in New Zealand and we are impressed with what the brand has achieved in Australia in such a short space of time.”
Shares in Mighty Craft ended the day up 2.86 per cent, trading at 18 cents.