The ACCC has decided that MicroStar Logistics LLC (MicroStar) must not acquire the assets of Konvoy Holdings Pty Ltd (Receivers and Managers Appointed) (Subject to Deed of Company Arrangement) (Konvoy).
In February 2026, MicroStar notified the ACCC of a proposal to acquire Konvoy’s assets. MicroStar, which operates under the name Kegstar in Australia, and Konvoy are currently the only suppliers of keg pooling services in Australia.
Keg pooling allows brewers to rent kegs on a short-term basis to supply alcoholic drinks on tap to licensed venues.
Having concluded its assessment, the ACCC is satisfied that MicroStar’s proposed acquisition would likely have the effect of substantially lessening competition in the supply of keg pooling services in Australia.
“We found that MicroStar acquiring the assets of Konvoy, the only other provider of keg pooling services in Australia, would be likely to substantially lessen competition,” ACCC Commissioner Dr Philip Williams said.
“Without competitors, MicroStar could increase prices above a competitive level and reduce services or quality of service for customers, in particular independent brewers.”
While independent brewers can use their own kegs, the ACCC considers that self-supply is not a viable alternative to keg pooling services, particularly when kegs supplied by small breweries have to be collected from licensed venues located some distance away.
The ACCC found that there was not a sufficient likelihood that a new competitor would enter in a timely and sufficient way to meaningfully constrain MicroStar from increasing prices or reducing the quality of its services following the acquisition.
MicroStar sought informal merger clearance from the ACCC in June 2025. The ACCC announced its decision to oppose the acquisition under the informal merger regime in October 2025.
The ACCC noted that Konvoy has been in receivership since March 2025 and that its assets may ultimately be liquidated.
“While recognising that Konvoy’s assets may ultimately be liquidated, our assessment showed that there is a real prospect of the business being acquired by an alternate buyer and continuing under new ownership,” Dr Williams said.
Further information, including the Phase 2 Determination, is 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 licensed 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 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 administrator and McGrathNicol was appointed as the receiver. McGrathNicol undertook a sales process of Konvoy’s assets in 2025, selecting MicroStar as the buyer.
Merger control regime
More guidance on the new merger regime can be found on the ACCC’s website: Guidance documents for the merger control regime.
