Luxco Acquires Veev SpiritsMarch 22, 2016
Luxco has agreed to acquire Veev Spirits from founders Courtney and Carter Reum for an undisclosed sum. The deal includes the core Veev spirits brand—a 70-proof, açai-based product retailing at $30 and billed as a “vodka alternative”— as well as the 30-proof VitaFrute line of RTD cocktails.
The Reum brothers launched Veev in 2007, aiming to leverage the trend toward natural ingredients by utilizing açaí berry, prickly pear, acerola cherry and others in Veev’s formula.
Luxco president and COO David Bratcher noted that Veev’s brands have resonated with millennial drinkers due to the Los Angeles-based company’s all-natural positioning and commitment to sustainability, with 1% of sales donated to environmental initiatives. The Veev range joins a Luxco lineup led by Juarez Tequila, which sells around 700,000 cases annually. Other key labels for the St. Louis-based marketer include Pearl vodka, Ezra Brooks Bourbon and Lord Calvert Canadian whisky.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.