Washington-based craft distiller Heritage Distilling announced this week its plans to merge with Better World Acquisition, a special purpose acquisition company (SPAC), to go public in a transaction that has a pro forma enterprise value of over $122 million. If completed, the merger will make Heritage one of the only publicly traded pure-play craft distilleries.
American craft spirits are recovering from the pandemic’s downturn, according to new data from the Craft Spirits Data Project.
Pronghorn, an initiative focused on boosting Black spirits entrepreneurship, announced yesterday new investments in three companies: Tequila with Friends, Den of Thieves and Ego Tequila. Terms of the deals were not disclosed.
Diageo has acquired Waco, Texas-based whiskey maker Balcones Distilling in a cash transaction, the company announced today.
Campari Group is boosting its Kentucky bourbon portfolio by taking a majority stake in Wilderness Trail Distillery, the company announced today. The move comes at a time when American whiskey continues to rise, and particularly higher-priced brands.
Super premium spirits have been outpacing mainstream categories for over a decade, but will a looming recession stall that trajectory? A new report suggests that economic conditions may soften demand for high end wine and spirits, but won’t hinder long term growth.
Pernod Ricard is boosting its agave portfolio with another tequila. The global wine and spirits company announced on Monday that it had acquired a majority stake in Código 1530 Tequila, the ultra-premium tequila co-founded by country music singer George Strait.
Government affairs leaders from the largest U.S. beer manufacturers are gearing up for battles with the liquor industry over tax equalization in several states in 2023.
E-commerce luxury spirits platform ReserveBar announced today that it will now provide on-demand sales, a move that reflects the changing landscape of online alcohol shopping and underscores the company’s ongoing mission to bridge the technology gap between alcohol producers and consumers.
Global spirits conglomerate Diageo has acquired premium cold brew coffee liqueur brand Mr Black, in which it previously held a minority stake, the company announced today. Terms of the deal were not disclosed.
Topo Chico’s fated move into hard spirits is coming in 2023, via Molson Coors. On the heels of the fast-growing Topo Chico Hard Seltzer brand, Molson Coors will launch a spirit-based version of Topo Chico in key markets, such as the southwest and southeast and parts of the Midwest.
Legal restrictions and a complicated path to purchase are two of the reasons why spirit brands can be slower to hop on social media.
The founders of Sunboy, a spiked sparkling coconut water, initially got together slanging fresh coconuts at events and parties in New York. The two hosted parties on the Brooklyn Bridge selling coconuts from a bicycle, eventually growing the enterprise to offer the experience at food and corporate events. But when the pandemic put those events and that hustle to a stop, Luke McKenna and Yair Tygiel were forced to come up with another product: a hard coconut water.
With tequila and ready-to-drink cocktails becoming two of the hottest alcohol categories, Lance Collins is looking to have a hand in both. As the founder and chairman of tequila soda brand Casa Azul, launching today, the beverage mogul behind Fuze, NOS, BodyArmor and Core is confident his new line of tequila soda will hit the sweet spot for consumers of spirit-based canned cocktails who enjoy the low-ABV and low-calorie qualities of a hard seltzer.
