British soda and tonic brand Fever-Tree has revealed that it recently acquired US non-carbonated cocktail mixer brand, Powell & Mahoney, for $5.9m.
The deal last month is part of Fever-Tree’s ambitions to capitalise on additional opportunities in the US market and extend its bottling capacity.
Charles Gibb, CEO North America at Fever-Tree, said: “Alongside extending our range of carbonated mixers, we are also extending into the significant opportunity within the non-carbonated cocktail mixer category in the US. This segment of the mixer market is the same size as the tonic water and ginger beer markets combined and is growing and premiumising at pace.”
He added: “Consequently, we acquired Powell & Mahoney, a premium non-carbonated US cocktail mixer brand, with national retail listings and an asset light business model with an established production partner. We believe the acquisition will provide Fever-Tree with the ideal platform to accelerate its entry into this exciting adjacent category.”
Earlier this week, Fever-Tree confirmed that it saw strong first-half sales growth and backed its revised guidance despite facing intensifying cost headwinds.
