Labatt buys Mike’s Hard Lemonade, Okanagan Cider and more
In a $350-million (U.S.) deal with the Mark Anthony Group of Companies, Labatt adds a range of well-known ready-to-drink, spirits-based beverages and cider brands to its portfolio
Labatt Breweries of Canada is about to add a whole new range of well-known ready-to-drink, spirits-based beverages and cider brands to its portfolio.
The $350-million (U.S.) deal with the Mark Anthony Group of Companies will give Labatt ownership in the Canadian market of ready-to-drink beverage brands such as Mike’s Hard Lemonade, Palm Bay and Okanagan Cider, as well as the Turning Point Brewery in British Columbia, which brews the Stanley Park family of brands.
“We’re excited about the agreement to acquire a highly creative portfolio of brands in the fast-growing ready-to-drink and cider segments,” says Labatt President Jan Craps. “Equally important, we will benefit from the experience and leadership of the people behind the success of such trailblazing brands, who will continue to manage the acquired portfolio and operate the Turning Point Brewery on an autonomous basis.”
Anthony von Mandl, the founder, chairman and CEO of the Mark Anthony Group, says he is extremely proud of the company’s legacy in creating such enduring brands.
“We’ve built a legacy that speaks for itself, and that legacy will continue to grow with the widening distribution and increasing channels for brands that so powerfully resonate with consumers,” says von Mandl. “Moving forward, we will focus on further building Mark Anthony Wine & Spirits, a leading national fine wine, spirits and beer importer and distributor across Canada. In the United States where Mark Anthony retains full ownership of its market-leading ready-to-drink business we see exponential growth ahead with our portfolio of brands that include Mike’s Hard Lemonade.”
According to a Labatt media release, Labatt expects the acquired brands to give the company an important base from which to expand in the ready-to-drink and cider segments, both of which are growing quickly and are areas where Labatt has not previously concentrated its efforts.
“These dynamic and distinctive brands are a perfect fit for our portfolio,” says Craps. “We’re always open to great opportunities – in beer and beyond – as our business continues to develop and change in Canada.”
The deal is expected to close in the coming months.
In a separate transaction, Mark Anthony Group is selling certain non-U.S. and non-Canadian trademark rights and other intellectual property to Anheuser-Busch InBev. Mark Anthony Group will retain full ownership of its U.S. business, as well as the Canadian wine, spirits and beer import and distribution business.