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Mighty Craft says “cheers” to transformational Adelaide Hills Group acquisition
The acquisition is expected to result in Mighty Craft’s spirit production capacity growing to 1.5 million bottles in FY22, making MCL one of the largest independent Australian craft spirit producers. The combined group is expected to deliver $78.7 million revenue in FY22.
Mighty Craft Ltd (ASX:MCL) has entered into a binding agreement to acquire 100% of Adelaide Hills Group for aggregate consideration of $47 million, creating one of the largest craft spirit producers in Australia.
The company believes the acquisition is transformational with the combined group expected to deliver $78.7 million revenue in FY22 along with $6 million of EBITDA (excluding transaction costs).