Constellation Brands, the US-based total beverage alcohol company, has expanded its portfolio with the acquisition of alcoholic sports drink brand SpikedAde for a payment of $75 million at close.
The transaction includes 100% ownership of the business, alongside contingent consideration of up to $278 million payable over five years based on future performance, according to the company. SpikedAde competes in the sports drink-inspired “Ade” segment, combining familiar sports drink flavors with a vodka base in a zero-sugar, 100-calorie, non-carbonated format. Constellation Brand claimed that the acquisition strengthens its position in the fast-growing ready-to-drink category and expands its portfolio into an emerging consumer demand space.
Constellation Brands president and chief executive officer Nicholas Fink commented: “SpikedAde has successfully carved out a distinctive position in an emerging segment and built a brand that is clearly connecting with consumers”.
The brand has an established presence across the eastern US and will be integrated into Constellation Brands’ Beer Division, with distribution aligned to Gold Network Distributor partners.
Source: Constellation Brands (via Globe Newswire)
