Asahi Beverages has acquired rapidly growing “adult soft drink” company StrangeLove, which was founded in 2013 by James Bruce and Stafford Fox.
With products such as Tonic No. 8, Lo-Cal Yuzu, Double Ginger and a range of premium sparkling waters, StrangeLove has more than doubled in volume and revenue in the last two years with listings in top Australian restaurants, high-end grocers and recently, premium Woolworths stores.
Robert Iervasi, CEO of Asahi Beverages Group – which owns the Schweppes Australia trade mark – said it is clear that Australians want more sophisticated and lower-sugar soft drinks.
Advertisement
The company said premium mixer sales have increased 40 per cent in the past three years while adult soft drink sales are up 65 per cent off a small base.
“We expect StrangeLove to really shake things-up in the on-premise premium mixer and adult soft drink space, with a high-quality, Australian-made brand,” he said.
“This deal will also strengthen our offer to retailers, which are dedicating more shelf-space to premium non-alcohol beverages.”
- How Fever-Tree made the ultimate cola for dark spirits: S14E3
- Kirin launching Fuji Single Grain Japanese Whiskey in Australia
StrangeLove co-founder James Bruce said the deal represents “an amazing opportunity to speed up StrangeLove’s mission”.
“With their FMCG-expertise and long-standing customer relationships in retail, hospitality and beyond, Asahi Beverages will help grow StrangeLove in a way we couldn’t on our own,” he said.
“They share our absolute commitment to quality and we’ve been impressed by how they’ve supported their other craft partners to retain their unique identity and foster innovation.
“The StrangeLove management team and I will remain in our roles at the business, and we’re excited and committed to its long-term growth.”
More:
The most important Australian craft beers of all time
How Fever-Tree revolutionised mixers, with founder Tim Warrillow: S7E2
Australian distillers using natives ‘at their peril’: Philip Moore
