Diageo, the leading alcoholic drinks firm, has announced the acquisition of beverage producer Far West Spirits, for an undisclosed amount.
Far West Spirits produces the Lone River ‘Ranch Water’ brand, an RTD beverage producer known for drawing inspiration from the classic Texan ‘Ranch Water’ cocktail. The Ranch Water agave-flavoured range includes Original, Spicy, and Rio Red Grapefruit. Each 355ml can is said to be low calorie and low sugar.
Commenting on the news Lone River founder and CEO, Katie Beal Brown, said: “We are so grateful for the diverse set of communities that have embraced our brand, extending far beyond our small place on the map. 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.”
In a press release, Diageo North America President, Debra Crew, added: “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. This acquisition is very much in keeping with our strategy to acquire high-growth brands in fast-growing categories and we look forward to working with Katie and her team to drive Lone River’s continued momentum.”
Source: The Spirits Business