MicroStar acquisition of Konvoy faces Phase 2 review

ACCC News Centre

Published April 2nd, 2026

Detected April 2nd, 2026

Summary

The ACCC has initiated a Phase 2 review of MicroStar Logistics' proposed acquisition of Konvoy Holdings' assets, finding preliminary concerns that the deal could substantially lessen competition in Australia's keg pooling services market. As the only two suppliers in this market, the ACCC seeks public submissions by 20 April 2026 on competition implications, particularly for independent brewers.

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What changed

The ACCC has decided that MicroStar Logistics LLC's (Kegstar) acquisition of Konvoy Holdings' assets requires an in-depth Phase 2 review, citing preliminary concerns that the transaction could substantially lessen competition. MicroStar and Konvoy are currently the only two suppliers of keg pooling services in Australia, which enable brewers to rent kegs on a short-term basis for supplying alcoholic drinks on tap to licensed venues. The ACCC notes that these services are particularly important for independent brewers who lack their own keg fleets.

The ACCC invites public submissions in response to its Phase 2 Notice by 20 April 2026. Parties can contact the ACCC via mergers@accc.gov.au. The ACCC has not reached a final conclusion and will continue its assessment during Phase 2. Under Australia's mandatory merger notification regime effective 1 January 2026, parties must notify the ACCC of qualifying acquisitions and await approval before proceeding.

What to do next

Submit public comments to ACCC by 20 April 2026 if you have relevant information about competition in keg pooling services
Contact ACCC at mergers@accc.gov.au to participate in Phase 2 review process
Review whether your business operations in the beer/brewing supply chain may be affected by reduced competition in keg pooling

Source document (simplified)

Date

2 April 2026

Topics

Mergers and acquisitions The ACCC has decided that MicroStar Logistics LLC’s (MicroStar) acquisition of the assets of Konvoy Holdings Pty Ltd (Receivers and Managers Appointed) (Konvoy) could substantially lessen competition in the market for keg pooling services and requires an in-depth Phase 2 review.

MicroStar, which operates under the name Kegstar in Australia, and Konvoy are the only suppliers of keg pooling services in Australia. These services enable brewers to rent kegs on a short-term basis to supply alcoholic drinks on tap to licensed venues, without needing to arrange for collection of empty kegs.

“Keg pooling services are particularly important in the independent brewing industry as many smaller brewers do not own their own fleet of kegs,” ACCC Commissioner Dr Philip Williams said.

“We’re concerned that the acquisition could substantially lessen competition in the supply of keg pooling services by removing MicroStar’s closest competitor.”

The ACCC has not reached a conclusion on the issues and will continue to consider the acquisition in Phase 2.

The ACCC invites submissions in response to its Phase 2 Notice by 20 April 2026. Parties can contact the ACCC via mergers@accc.gov.au.

More information and the Phase 2 Notice are available on the ACCC’s acquisitions register: MicroStar Logistics – Konvoy

Background

MicroStar is a limited liability company incorporated in the United States and is indirectly wholly owned by MStar Holding Corporation. MicroStar entered the Australian market in 2021 via the acquisition of Kegstar Pty Limited (Kegstar) from Brambles.

In Australia, MicroStar operates under the name Kegstar and primarily offers keg pooling services. It also offers longer-term keg leasing.

Keg pooling is a service where the provider delivers empty kegs to a customer such as a brewer. The brewer then cleans, fills and delivers the kegs to licenced venues using their own choice of logistics provider. The keg pooling service provider then organises the pick-up of empty kegs from the venues and delivers them to a brewer, using either its own vans or third-party logistics providers. Brewers pay for this service based on the number of kegs refilled.

Konvoy operates a keg services business in Australia and New Zealand. It offers keg pooling services, longer-term keg leasing, and keg maintenance and repair services.

Konvoy is in voluntary administration and receivership. On 11 March 2025, FTI Consulting was appointed as the administrators and McGrathNicol was appointed as the receivers of Konvoy. McGrathNicol undertook a sales process of Konvoy’s assets in 2025, selecting MicroStar as the buyer.

Merger control regime

Since 1 January 2026, it is mandatory for businesses to notify the ACCC of any acquisition that meets the notification thresholds set by the Minister. They must wait for ACCC approval before they can proceed.

Once notified, the notification is listed on the ACCC’s Acquisitions Register and stakeholder consultation is invited. The ACCC is required to make a decision in 15 to 30 business days in its Phase 1 assessment, subject to any extensions, to either approve the acquisition or decide it is to be subject to a Phase 2 review.

The ACCC can decide a notification is to be subject to a Phase 2 review if the ACCC is satisfied that the acquisition to which the notification relates, if put into effect, could, in all of the circumstances, have the effect, or be likely to have the effect, of substantially lessening competition in any market.

Under the Competition and Consumer Act, a Phase 2 assessment can take up to 90 business days, unless extended under specific circumstances.

More guidance on the new merger regime can be found on the ACCC’s website: Guidance documents for the merger control regime

Release number

30/26

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