Street Talk

US trade player, Tanarra lob bids for Konvoy Kegs

Sarah Thompson, Kanika Sood and Emma Rapaport

Apr 13, 2025 – 5.54pm

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Kegstar, a keg rental business once owned by the ASX-listed Brambles, is pouncing on rival Konvoy Kegs’ pain in an attempt to boost its market share Down Under.

Street Talk can reveal Kegstar, owned by Denver-headquartered giant Microstar Logistics, has submitted a non-binding indicative bid to McGrathNicol’s Melbourne-based partners Keith Crawford and Rob Smith, who were appointed as receivers by Konvoy’s lender Aquasia on March 11 as the start-up hit a cash crunch.

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.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.