INSPIRED MARKETING FOR BREW
MIGHTY Craft is teaming with Victoria’s Torquay Beverage Company and social media stars The Inspired Unemployed to launch a new beer company, with a low-carb brew hitting the market in October.
And in an unusual twist on sweat equity, The Inspired Unemployed will earn their 40 per cent stake in the business by taking on the marketing and public relations to support the launch and promotion of Better Beer.
The ASX-listed Mighty Craft will take part in a $1.4m rights issue being launched by Torquay, which will increase its stake in the smaller company from 50 to 61 per cent.
Mighty Craft will tip in $510,00 in cash and convert $740,000 of debt into equity in Torquay Bev Co, while the remaining shareholders will contribute $150,000.
“Around $250,000 of the funds raised by Torquay Bev Co will go into capitalising the new company that will be owned 60 per cent by Torquay
Bev Co and 40 per cent by the Inspired Unemployed,’’ Mighty Craft said in a statement to the ASX.
“As part of the shareholder agreement, The Inspired Unemployed will be accountable for marketing and PR to support the launch and ongoing sales of Better Beer.
“The capital raise values Torquay Bev Co at $3.6m pre-money. The funds raised will support the product launches and provide working capital funds to build inventory levels to support the launch.’’
Mighty Craft said the launch of the no-carbohydrate “Better Beer” was being strongly supported, with more than 1500 retail stockists already lined up.
It will be the first national beer launch for Mighty Craft, which owns stakes in several brewing and distilling businesses including Kangaroo Island Spirits, Sparkke Beverage Co and Ballistic Beer Co.
The Inspired Unemployed have more than 2.5 million followers across Instagram, Facebook, TikTok and YouTube, and have featured on the cover of GQ Style and in fashion shoots for The Iconic.