Soft drinks giant Coca-Cola Europacific Partners is quitting an Australian beer joint venture after eight years, selling its stake in the Australian Beer Co business to long-time partner Casella Family Brands, which is best-known for its big-selling Yellow Tail wine brand in the United States.

The decision to sell the stake in the brewing business based at Yenda in NSW continues a repositioning for the Coca-Cola business in Australia following a $9.8 billion buyout of the ASX-listed Coca-Cola Amatil in April last year.