Mike’s Hard Lemonade Reportedly On Selling BlockFebruary 5, 2015
One of the U.S. market’s leading flavored malt beverage (FMB) brands, Mike’s Hard Lemonade Co., is weighing a sale of its business, Reuters reports. The Chicago-based producer could be valued at more than $1 billion, the report said, citing unnamed sources. It added that Mike’s parent company Mark Anthony Group could still opt against a divestiture depending on interest in the business.
The Mike’s portfolio, including flavors like Black Cherry and Smashed Apple in addition to its original Lemonade flavor, was flat at 19.3 million (2.25-gallon) cases in 2013, according to Impact Databank, but its medium-term growth record has been impressive. As of 2007, the brand was at 9.7 million cases. Still, competition has heated up in the FMB sector lately, particularly from AB InBev, whose Bud Light Lime Rita franchise has placed multiple entries on Impact’s “Hot Brands” list in recent years.
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