Beam Suntory and The Boston Beer Company have entered into a new partnership to bring their select iconic brands into fast-growing alcohol categories.
The companies initially plan to launch products that expand Beam Suntory’s Sauza tequila brand further into the US ready-to-drink (RTD) beverages category and Boston Beer’s Truly Hard Seltzer into bottled spirits.
These products will be available in US retail by mid-2022, but the companies plan to expand across more key brands in the future.
Through the long-term strategic partnership, Beam Suntory and Boston Beer aim to capitalise on some of the fastest-growing beverage alcohol sectors.
“Our industry is rapidly evolving, and consumers are looking for new and exciting options that suit a wide variety of occasions,” said Dave Burwick, CEO of The Boston Beer Company, which owns brands such as Dogfish Head beer and Twisted Tea Hard Iced Tea.
He added: “Beam Suntory shares our pioneering, entrepreneurial spirit, and the obsession with delivering high-quality products. This unique, win-win collaboration opens a new frontier for our industry-leading Truly Hard Seltzer brand as we expand into bottled spirits and also allows us to bring a great tequila brand into our best-in-class wholesaler network.”
The partnership will enable both companies to benefit from each other’s expertise including Beam Suntory’s distilling knowledge, Boston Beer’s production capabilities and both firm’s distribution networks.
“We are each tapping opportunities in adjacent categories by unleashing our shared creativity and respective distribution strengths in spaces that resonate with consumers,” said Albert Baladi, president and CEO of Beam Suntory.
While Beam Suntory is already active in the RTD market particularly in Japan, Australia and Germany, the company plans to strengthen its position in the US RTD business.
This move builds on Beam Suntory’s acquisition of pre-mixed cocktail brand On The Rocks and its launch of Hornitos seltzers and Jim Beam Highballs.
Baladi added: “We’re expanding the reach of loved, iconic brands that have tremendous equity, credibility, and consumer loyalty. Beam Suntory and Boston Beer understand brand building, and as pioneers in premium spirits and craft beer, our combined possibilities are limitless.”
© FoodBev Media Ltd 2021
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