I'd move everything a bit more towards the middle. The flag could be reduced in size a bit so it doesn't overlap the barcode. The "American Stout" could be moved up under the flag more, so it's not floating at the bottom.
Oval labels are tough, especially if you have blocky elements like the flag and "American Stout" with the bars above it. Maybe instead make the flag fill up the whole oval, even though some of the flag will get cropped it will still provide a nice back drop, make it more transparent also, like a soft watermark, increase the size of "American Stout".
Anyway, just some thoughts.