Molson Coors Brewing (NYSE:TAP), a company based in Denver has purchased the maker of Clearly Kombucha. That was the first time that the multinational brewing company bought a non-alcoholic beverage brand and one of the officials said it was a good thing trading in California.
The transaction was closed on June 1 and to this point in time the terms of the deal haven’t been disclosed yet. TAP Ventures, a division within Molson Coors’ enterprise growth was launched in the previous year and it was the one spearheading the deal. It has been busy for over quite some time identifying investment opportunities outside of the traditional beer segment.
A Molson Coors spokesman through an email outlined that the TAP Ventures team had been exploring opportunities in the Kombucha space over the past one year. It had finally settled on Clearly Kombucha. The team of Clearly Kombucha is associated with great expertise and strength and that together with the growth of the health and wellness category made it the perfect choice for them.
Moves made so far
It was in 2009 that Caleb Cargle and Alison Zarrow founded Clearly Kombucha and it focuses on the production of a line of fermented botanical drinks available in almost five flavors called C-Botanicals as well as the production of the six SKUs of organic kombucha. It is distributed primarily on the Pacific Northwest as well as on the West Coast.
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Pete Marino, Tenth and Blake president has said that Kombucha is one of the fastest growing categories adding that with the passage of time it is gaining steam. Marino describes it as something with a lot of staying power behind it. Clearly Kombucha is widely known for the manufacture of terrific products that that won the market a huge deal.
Cargle and Zarrow are expected to team with the brand and will be reporting to Maria del Rio who is the interim general manager and also an integral member of Molson Coors’ Denver-based global innovation team. The purchase pulls along as a part of a major movement towards the non-beer investments from enormous brewing companies.