BILLSON’S Beverages is set to be acquired by makers of arguably the world’s most popular soft drink in the Coca-Cola Company.

The company announced on Friday it had entered an agreement to acquire Billson’s, who recently avoided liquidation and entered a deed of company agreement with creditors to continue operation of the beloved ready-to-drink products.

Billson’s directors Nathan and Felicity Cowan said they “wholeheartedly” believe the brand is in the best possible hands for it to thrive into the future.

“We are thrilled to have entered into an agreement to sell the Billson’s brand and alcoholic ready-to-drink (ARTD) range to a company like Coca-Cola,” they said.

“This will allow us to dedicate ourselves to what we love most: the Beechworth venue experience and our historic cordial range.

“We’ll also have more time to focus on our passion for soda, liqueurs, beer and alpine spring water.”

Billson’s entered voluntary administration in July earlier this year, with a decline in sales, cost-of-living pressures and intense competition cited as some of the downfalls of the company.

In a creditors report tabled by McGrathNicol administrators in November’s creditors meeting, a “confidential” party had been in negotiations with administrators since October about acquiring an asset sale in order to recapitalise the company.

The “confidential” party has been revealed as the Coca-Cola Company.

As mentioned in the report, current owners of Billson’s, the Cowans will remain as directors and continue to produce their well-known cordial, soda, and beer range under a new brand name and to operate their hospitality business in Beechworth.

Coca-Cola Company vice president of marketing, ASEAN and South Pacific, Matthias Blume said Coca Cola was excited to add Billson’s to their portfolio of Australian brands.

“This acquisition allows us to expand in the dynamic and growing ARTD category in Australia and aligns with our vision to provide a beverage for every occasion, always keeping the consumer at the centre of everything we do,” he said.

“Of course, we know that offering options with alcohol brings new responsibilities for us, and we take these seriously.

“Our Responsible Alcohol Marketing Policy determines how we responsibly go to market with alcohol brands.”

Mr Blume said the Billson’s team has built the brand through innovative flavours and great-tasting drinks, creating a passionate community of “flavour chasers”.

“We are looking forward to expanding on those foundations and bringing great-tasting Billson’s products to even more Australians,” he said.

A Coca-Cola spokesperson said the company had no current plans to expand Billson’s beyond Australia.

The acquisition is targeted for completion on January 31, 2025, when The Coca-Cola Company is expected to take ownership of the brands.