Former beer industry executive, Filip Filipovic, has made headlines with his recent acquisition of two Australian craft beer and spirits companies, marking a significant development in the local beverage landscape.
This AU$7 million acquisition comes on the heels of Mighty Craft’s purchase of both Adelaide-based firms almost three years ago as part of a larger AU$47 million transaction. Now, the assets of these subsidiaries will be transferred to a consortium named Mismatch Brewhouse Publicans, spearheaded by Filipovic.
The newly formed company, registered in late March, represents the latest venture for Filipovic, who notably acquired craft beer brand Jetty Road from Mighty Craft last year.
Reportedly structured as a cash deal totaling $7.2 million, the acquisition encompasses a wide range of assets, including the renowned Mismatch and 78 Degrees brands, along with intellectual property rights, trading names, operational agreements, inventory, equipment, and licenses. This move follows Mighty Craft’s previous acquisition of the two South Australian brands and Hills Cider almost three years ago, a transaction that also granted them 75% ownership of the LOT.100 venue in the Adelaide Hills.
Key components of this latest deal include the assignment of leases for the Mismatch Brewhouse venue located in Adelaide’s Whitmore Square, as well as the Mismatch and 78 Degrees production facilities in South Australia. Recent reports suggest that Mismatch had only recently taken over the Whitmore Square site, previously home to Adelaide craft beer brand Sparkke, with plans to restore the venue to its pre-Covid trading levels and clear the AU$1.5 million debt owed by Sparkke.
In response to inquiries regarding the sale of the craft beer subsidiaries to Filipovic, a spokesperson for Mighty Craft emphasized that the transaction is contingent upon the transfer of all liquor licenses and acceptance of employment offers by the businesses. The spokesperson further elaborated that approximately half of the sale proceeds will be allocated to senior lenders of Mighty Craft Limited (MCL) to partially settle outstanding debt facilities, while the remaining funds will support ongoing business operations. Though the exact timeline for the completion of the sale remains uncertain, both parties aim to finalize the settlement on or before May 31, 2024.
