Diageo Acquires Owner Of Hard Seltzer Brand Lone River Ranch Water
Spirits giant Diageo has announced that it has acquired Far West Spirits LLC, the owner of the Lone River Ranch Water brand.
Lone River is a hard seltzer that takes inspiration from the popular classic Texan 'Ranch Water' cocktail.
Debra Crew, president of Diageo North America, commented, "We are excited to bring this vibrant young hard seltzer brand into our growing ready-to-drink portfolio.
"Lone River captures the magic of Americans’ love for agave flavoured beverages combined with their desire for light, convenient refreshment."
Lone River was founded in 2019 by Katie Beal Brown in Texas, who was inspired by the Ranch Water cocktail made by her family.
Beal Brown will retain a minority interest in the company and continue to lead the business on a day-to-day basis, as CEO of the brand. She will work closely with Diageo North America leadership to build further on Lone River’s success.
Katie Beal Brown, founder and CEO of the Lone River Beverage Company, said she “started Lone River with the dream of giving people a taste of Far West Texas."
"We found in Diageo a world-class partner who believes in our vision to bring the spirit of Far West Texas to as many as we can,” she added.
The portfolio offers drinks in three variants: Original, Spicy and Rio Red Grapefruit.
Demand For Ready-To-Drink Category
During COVID-19, the ready to drink (RTD) category has increasingly gained momentum in the United States, driven by consumer trends such as interest in lower sugar, lower calorie and gluten free offerings, as well as increased demand for convenient formats for casual and at-home occasions.
Between 2016 and 2019, the RTD category grew 20%, driven by a 259% growth in the hard seltzer segment.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Conor Farrelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.