Australia's largest beer company Carlton & United Breweries has made another craft beer acquisition, buying Gold Coast-based Balter Brewing Co from founders including surfing champions Mick Fanning and Joel Parkinson.

Balter was established in 2016 and has been one of the fastest-growing brands in an increasingly crowded craft beer segment, producing overall growth rates of 10 to 15 per cent at a time when many mainstream beer brands are in reverse.