Beam Suntory, Boston Beer Form Partnership Targeting Cross-Category ProductsJuly 15, 2021
Beam Suntory and Boston Beer are forming a new alliance to target new drinks categories with some of their largest brands and leverage each other’s distribution networks. As part of this partnership, the companies will expand Boston Beer’s Truly Hard Seltzer into bottled spirits, and Beam Suntory’s Sauza Tequila brand will expand into additional RTD formats by leveraging Boston Beer’s expertise, production capabilities, and distribution footprint.
Financial terms of the agreement weren’t disclosed. Beam Suntory CEO Albert Baladi and Boston Beer CEO Dave Burwick were former colleagues at Pepsico. “We are each tapping opportunities in adjacent categories by unleashing our shared creativity and respective distribution strengths in spaces that resonate with consumers,” said Baladi.
The two companies say the first new products resulting from this partnership will be available across consumer retail channels in the United States by mid-2022, with plans to expand across more key brands in the future.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.