Mentioned:
Jason Cohen launched a disruptive new vodka based drink company less than eighteen months ago. And now, Constellation Brands has just bought it.
What’s happening:
- Constellation Brands (NYSE: STZ) has acquired private vodka based drink company SpikedAde in a new deal worth up to $353M USD
By the numbers:
- Constellation Brands paid $75M USD to acquire SpikedAde and will pay up to $278M USD more upon SpikedAde successfully hitting performance based milestones over the next five years
Why it matters:
- This is one of the largest acquisitions Constellation Brands has made in the vodka based drink space in the last four years
Going deeper:
- SpikedAde's ready to drink product combines vodka with zero sugar, zero gluten and has only 100 total calories and currently has existing distribution throughout the eastern United States
- Serial food entrepreneur Jason Cohen is the founder of SpikedAde and previously was a strategic partner in SkinnyPop which was ultimately sold to Hershey for approximately $1.6B USD
