“Better Beer” aims to raise $20 million to expand its sales and marketing efforts, as the company has experienced considerable growth since its launch 15 months ago.
The beer brand, founded by social media comedians Jack Steele and Matt Ford, along with Torquay Beverages’ CEO Nick Cogger, aims to become a permanent fixture in Australian pubs.
“Better Beer” sells over 1 million litres per month and has reached $45 million in revenue this financial year, and it has already launched in New Zealand.
The brand’s founders hold a combined 40% stake, while Jarden is overseeing the capital-raising process.
The beer category has been going through significant changes, with millennial and Gen Z drinkers increasingly reaching for no- or low-alcohol options.
Traditional players such as Heineken and CUB are expanding their non-alcohol ranges, while new brands like Heaps Normal are benefiting from the trend.
The funds raised will be used for marketing efforts across television, radio, and billboard advertising, as well as to get “Better Beer” on tap in more local pubs and watering holes.
Additionally, the capital will go towards two upcoming product launches: a mid-strength lager and a craft beer.
»“Better Beer” aims to raise $20m in hopes of becoming a mainstay in local pubs«
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