GoLocalProv | Rhode Island s Loyal 9 Cocktails Acquired by Global Beverage Leader Diageo
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Diageo buys RTD brand Loyal 9 Cocktails
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The Drinks Business
12 March 2021 By Lucy Shaw
Keen for a slice of the seltzer action, drinks giant Diageo has acquired Texas-based Far West Spirits, maker of the Lone River Ranch Water hard seltzer brand.
As reported by Forbes, the terms of the deal were not revealed, but Lone River’s founder, Katie Beal Brown, has retained a minority stake in the company. “We are excited to bring this vibrant young hard seltzer brand into our growing ready-to-drink portfolio.
Lone River Ranch Water’s founder, Katie Beal Brown
“Lone River captures the magic of Americans’ love for agave flavoured beverages combined with their desire for light, convenient refreshment,” said Debra Crew, president of Diageo North America.
Dive Brief:
Diageo has acquired Far West Spirits LLC, which owns hard seltzer brand Lone River Ranch Water, according to a press release. Katie Beal Brown, who founded Lone River in 2019, will retain a minority interest and continue to lead it as CEO of the brand.
The brand draws its inspiration from the Texan Ranch Water cocktail, which is a tequila drink made with lime juice and sparkling water. Lone River incorporates West Texas-inspired ingredients like agave and lime juice in its three flavor offerings: Original, Spicy and Rio Red Grapefruit.
Diageo’s latest acquisition is part of its current M&A strategy, which involves adding more premium brands to its portfolio as it sees consumers seeking quality over quantity.