Beam Suntory and Boston Beer Co. said they formed a long-term, strategic partnership to extend select iconic brands into some of the fastest-growing beverage alcohol segments.
As part of this partnership, the company plans to expand Truly Hard Seltzer, the fastest growing hard seltzer on the market, into bottled spirits and will benefit from Beam Suntory’s distilling expertise and robust distribution network.
And Beam Suntory’s Sauza tequila brand, will expand into additional RTD formats by leveraging Boston Beer’s expertise, production capabilities and distribution footprint.
The first new products resulting from this partnership will be available across consumer retail channels in the U.S. by mid-2022, with plans to expand across more key brands in the future.
“Our industry is rapidly evolving, and consumers are looking for new and exciting options that suit a wide variety of occasions, and we couldn’t be happier to have found the perfect partner to extend our brands into the spirits category,” said Dave Burwick, Boston Beer CEO. “Beam Suntory shares our pioneering, entrepreneurial spirit, and the obsession with delivering high-quality products. This unique, win-win collaboration opens a new frontier for our industry-leading Truly Hard Seltzer brand as we expand into bottled spirits and also allows us to bring a great tequila brand into our best-in-class wholesaler network.”
Already an RTD leader in Japan, Australia and Germany leveraging brands like Jim Beam, Canadian Club and -196°, Beam Suntory is turbo-charging its fast-growing U.S. RTD business, building on the acquisition of On The Rocks premium cocktails and launch of Hornitos seltzers and the Jim Beam Highball.
“We are each tapping opportunities in adjacent categories by unleashing our shared creativity and respective distribution strengths in spaces that resonate with consumers,” said Albert Baladi, Beam Suntory president/CEO. “We’re expanding the reach of loved, iconic brands that have tremendous equity, credibility, and consumer loyalty. Beam Suntory and Boston Beer understand brand building, and as pioneers in premium spirits and craft beer, our combined possibilities are limitless.”