The Coca-Cola Company has signed an agreement to acquire the Billson's Beverages brand of ready-to-drink alcoholic beverages in Australia.

The financial terms of the transaction were not disclosed.  

Billson's Beverages’ vodka-based drinks include Vodka with Tangle, Vodka with Grape Burst and Vodka with Portello. 

Current owners Nathan and Felicity Cowan will continue to produce their cordial, soda and beer range under a new brand name from the existing premises in Beechworth, Victoria, according to a statement.

They took over the business in 2017 but Billson's Beverages has faced “vast and incomprehensible” challenges this year, leading to the appointment of administrators in July.  

The owners cited a difficult economic environment and acknowledged mistakes made since acquiring the brewery seven years ago. 

Ms Cowan said the sale of the RTD vodka business to Coca-Cola will allow the husband and wife team to dedicate themselves to “the Beechworth venue experience and our historic cordial range”.  

She added: “We will also have more time to focus on our passion for soda, liqueurs, beer and alpine spring water."  

Originally a cordial producer, the Billson's brewery had expanded its range to include beer, ginger beer, cider, and alcoholic RTDs.  

Matthias Blume, Coca‑Cola's vice president of marketing for ASEAN and the South Pacific, said the acquisition will enable the company “to expand in the dynamic and growing alcoholic ready-to-drink category in Australia”. 

It “aligns with our vision to provide a beverage for every occasion”, the executive added.  

Coca-Cola said there are no immediate plans to expand Billson's Beverages beyond Australia.  

The acquisition is expected to be finalised by 31 January, at which point Coca-Cola will assume ownership of the brands.