Coca-Cola Deals 159-Year-Old Iconic Brewery a Lifeline

FILE - This June 30, 2014, file photo shows cans of Coca-Cola in the refrigerator of Chile Lindo in San Francisco. On Thursday, March 24, 2016, Coke said it spent more on health research and partnerships than it previously disclosed as part of its push to be more transparent. The world's biggest beverage company first disclosed its spending on various health-related efforts in the U.S. after coming under fire for its funding of the Global Energy Balance Network, a group that said its mission was to fight obesity. That group has since disbanded. AP Photo/Jeff Chiu, File

Nearly five months after going into voluntary administration, the 159-year-old Billson’s Brewery in Victoria has been handed a lifeline by Coca-Cola.

Brewery owners Nathan and Felicity Cowan broke the news on social media on Dec. 20.

“Today marks a big and pretty surreal milestone for us, we’re proud to announce that the Coca-Cola company is currently in the process of acquiring the Billson’s brand and also our range of pre-mixed spirits,” Nathan said.

“We’ve been working really closely with their amazing team over the last few months to try and make all of this possible.

“It’s been really enjoyable working with their team because not only have we seen how passionate they are about the drinks but also how passionate they are about this amazing community, and they'll definitely want everyone’s help and guidance on where to take the brand next and we’re just as excited as anyone to see what the future holds.”

The Cowans, who moved to Beechworth to manage the brewery seven years ago, said they were proud of their team for coming through the challenges.

In August, Nathan said he claimed responsibility, along with partner Felicity, for mistakes in running the business that had “let a lot of people down.”

“We are devastated and sorry,” he said at the time.

They say the lifeline from Coca-Cola will allow them to also focus more on their sodas, cordials, beers, liqueurs, and even spring water sourced from their 150-year-old red-brick well.

The pair will continue to run the brewery.

And with the news of the change, comes a call for the public to help think of a new name going forward.

The Cowans said they had considered a name such as “George’s” or “Isabella’s” after the brewery’s founds, a local historic name like Ovens or Murray, or even something geographically inspired like “Last Street” or “Beechworth.”

Tough Time for Business

More businesses than ever are struggling to stay afloat across Australia, with only some light relief predicted in the new year.

About 11,053 businesses were in the red during the 2023-24 financial year, with the latest ASIC figures suggesting the situation will deteriorate in the new year.

The food and hospitality industries were among the hardest hit, coming in just behind construction.

On Dec. 12, CreditorWatch, a commercial credit reporting agency which aggregates data on every Australian business, revealed the average business failure and closure rate for all sectors is currently at 5.1 percent, the highest since August 2020.