Originally formed to amalgamate brewing and hotel interests in Ballarat, Victoria. Phoenix Brewing of James Coglan and Royal Standard Brewery of William Tulloch. The company was registered in Victoria in 1895. Coglan and Tulloch's Ballarat Brewing Co Ltd changed it's name in 1910 to The Ballarat Brewing Co Pty Ltd. The company achieved public status in 1936 and adopted it's current name. Carlton United Breweries Ltd purchased the brewing operations of the company in 1958 but not the company owned hotels.
In 1895 the Barley Sheaf Brewery was purchased and in 1897 the Maryborough Brewery was purchased.