Bottoms up! Better Beer, the beer brewer backed by comedians Jack Steele and Matt Ford, better known as The Inspired Unemployed, has launched a capital-raising effort to boost its market share and capitalise on the rising popularity of low-strength beer.
Street Talk understands the zero-carb brewer is working with boutique corporate advisory firm Canterbury Partners to raise between $10 million and $15 million from new investors. If the round is oversubscribed, Better Beer will also run a secondary sale up to $15 million to pay out some of its largest shareholders.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com