Asahi is about to enter the premium soft-drinks space because it's snappin' up Strangelove.
👉 Background: Asahi is the Japanese-owned conglomerate that bought Carlton & United Breweries for $16 billion in 2020. This not so little move gave Asahi ownership of brands like Victoria Bitter, Carlton Draught and Crown Lager.
👉 What happened: As for young StrangeLove, they were founded in Byron Bay in 2013 and sell a range of premium sparkling mineral waters, like tonic water, mineral water and low-calorie sodas.
👉 What else: And now, Asahi will be snappin' up Stranglove but keeping it as a stand-alone business. Asahi loves the Strangelove biz because despite COVID lockdowns, StrangeLove’s revenue has grown 100 per cent over the past two years.
💡When the economy is looking dire, companies look to invest where pain is expected to be low. StrangeLove has proven resilience over the last two years and sits in categories that continue to grow.
💡 Strangelove sits in a sweet spot - somewhere between a non-alcoholic beverage market, which is expected to grow at 31% over the next few years.But it also plays in the premium mixer market, which has grown 40% in the past three years.
💡Asahi reckons Strangelove would be immune from an economic downturn because consumers will continue to prioritise higher-end products - even in a downturn.
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