Diageo said it acquired Far West Spirits LLC, owner of the Lone River Ranch Water (‘Lone River’) brand. Lone River is a hard seltzer that takes inspiration from the popular classic Texan “Ranch Water” cocktail. Terms weren’t disclosed. It’s a cash transaction.
Lone River was founded in 2019 by native Texan, Katie Beal Brown. Katie will retain a minority interest and continue to lead the business on a day-to-day basis, as Chief Executive Officer of the brand. She will work closely with Diageo North America leadership to build further on Lone River’s success. The brand has three offerings:
- Original: The Original Ranch Water hard seltzer flavored with organic blue agave nectar and lime juice
- Spicy: Ranch Water with a kick of the Texas state pepper, jalapeño
- Rio Red Grapefruit: Ranch Water with a squeeze of Rio Red Grapefruit juice, the Texas state fruit
Debra Crew, president, Diageo North America, said the company is “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 flavored 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.”
Katie Beal Brown, Lone River founder/CEO, said: “We started Lone River with the dream of giving people a taste of Far West Texas. 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.”