Diageo has acquired ready-to-drink (RTD) cocktail brand, Loyal 9 Cocktails, from Sons of Liberty Spirits Company.
Launched in 2018, Loyal 9 offers a range of vodka-based 9% ABV canned cocktails, including mixed berry lemonade, watermelon lemonade and cranberry lime flavours. The brand’s portfolio also includes hard seltzers.
With its acquisition of Loyal 9, Diageo aims to further capitalise on the growth of the RTD alcohol category in the US.
News of the deal comes a month after Diageo announced that it had acquired Far West Spirits, the owner of the Lone River Ranch Water hard seltzer brand.
Diageo also recently expanded its RTD portfolio with the launch of Crown Royal canned cocktails.
“Loyal 9 hits an RTD ‘sweet spot’, merging American consumers’ growing appreciation for better quality ingredients with the full flavour lemonade they love and a classic Americana feel,” said Debra Crew, president, Diageo North America.
“We have a clear strategy to build and diversify our RTD offerings across price points and consumer segments, and Loyal 9 is a great addition to our portfolio, which is also growing through the recent acquisition of Lone River and innovations from several of our brands.”
Mike Reppucci, CEO of Sons of Liberty Spirits Company, said: “It’s been a fantastic adventure to create and lead Loyal 9’s development to this stage, and we’re excited to be passing the baton to Diageo to take this great brand to the next level.”
The acquisition will be funded through existing cash resources. The financial terms of the deal have not been disclosed.
© FoodBev Media Ltd 2020
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