Beverage Manufacturing

Thinking of Selling Your Beverage Business? We’re Here for You

Whether you’re actively considering selling your beverage manufacturing company or just exploring your options, our experts can guide you. We offer a free, confidential consultation to discuss your circumstances and any concerns you may have. And if you decide you want us to handle your sale, we’re by your side throughout the process. Don’t let uncertainty hold you back – take the first step toward a successful sale today.

Mergers and Acquisitions in the Beverage Manufacturing Industry

When it comes to selling, or mergers and acquisitions, in the beverage industry, experience matters. Morgan & Westfield has a history of advising on successful sales. We draw on our deep understanding of market trends, buyer preferences, and negotiation strategies to position your business to get the highest price. Whether you’re thinking of a merger or an outright sale, we can guide you through every stage.

Unlock the Value of Your Beverage Business

Understanding the true value of your business is crucial to making informed decisions about your future. Our business valuation services provide an unbiased assessment and give clarity on your business’s financial standing. Whether you’re in beer, soft drinks, bottled water, energy beverages, or another area, we tailor our approach to your niche.

Types of Businesses We Sell and Value 

  • Alcoholic Beverage Manufacturers
  • Beer Manufacturers
  • Beverage Manufacturers 
  • Bottled Water Manufacturers
  • Bottling and Packaging Manufacturer
  • Carbonated Soft Drinks Manufacturers
  • Carbonated Water Manufacturers
  • Cocktail Beverage Manufacturers
  • Coffee Manufacturers
  • Craft Beer Manufacturers
  • Craft Beverage Manufacturers
  • Dairy-Based Beverage Manufacturers
  • Energy Drinks Manufacturers
  • Flavored Water Manufacturers
  • Flavored Milk Manufacturers
  • Fruit Juice and Smoothie Manufacturers
  • Functional Beverage Manufacturers
  • Hard Seltzer Manufacturers
  • Herbal and Functional Tea Manufacturers 
  • Juice Concentrate and Puree Manufacturers
  • Mead and Cider Manufacturers
  • Milk Manufacturers
  • Non-Alcoholic Beverage Manufacturers
  • Nutritional Supplement and Functional Beverage Manufacturers
  • Organic Beverage Manufacturers
  • Plant-Based Beverage Manufacturers
  • Ready-to-Drink Beverage Manufacturers
  • Soft Drinks Manufacturers 
  • Sparkling Water Manufacturers
  • Specialty Beverage Manufacturers
  • Sports Drink Manufacturers
  • Tea Drink Manufacturers
  • Wine and Spirits Manufacturers

Overview of the Beverage Manufacturing Industry 

The beverage industry makes drinks and ready-to-drink products. Examples include soft drinks, alcohol, milk products, bottled water, energy drinks, nutritional drinks, and coffee- and tea-based products. Manufacturing can involve sourcing raw materials, quality testing, formulation, blending, packaging, and distribution, with a focus on product safety and consistency. 

It is an industry influenced by evolving consumer preferences and market trends, such as health and wellness, convenience, and sustainability. As such, manufacturers face intense competition in a global market, and this demands innovation, branding, and effective marketing strategies for success. On top of this, companies must comply with strict regulations.

How We Got Here – A Brief History

  • 1767 – Carbonated Water Created: The first carbonated water was created by Englishman Joseph Priestley, marking the early beginnings of the carbonated beverage industry.
  • 1886 – Coca-Cola Company Founded: The Coca-Cola Company was founded in Atlanta, Georgia, introducing one of the most iconic and globally recognized soft drink brands.
  • 1902 – Pepsi-Cola Incorporated: Pepsi-Cola was created by Caleb Bradham. It became very popular and was incorporated in 1902.
  • 1920 – Alcoholic Beverage Prohibited: The Prohibition era began in the United States, leading to a temporary ban on the production, sale, and distribution of alcoholic beverages. This period greatly affected the alcoholic beverage industry.
  • 1933 – Alcoholic Beverage Ban Ended: The Prohibition era ended with the ratification of the 21st Amendment, the repeal of Prohibition, which allowed the legal production and sale of alcoholic beverages.
  • 1958 – First Diet Soda Introduced: Diet Rite was introduced in 1958 and first released as a diet and nutrition product, but was introduced nationwide and marketed to the public as a healthy beverage in 1962.
  • 1960s – The Craft Beer Movement Began: The craft beer movement began in the United States and in the United Kingdom. It increased the number of independent breweries and microbreweries producing unique and flavorful beers in the following years.
  • 1965 – Gatorade Sports Drink Invented: On October 2, 1965, a team of scientists invented Gatorade, a sports drink to quench thirst, in a University of Florida lab.
  • 1971: Starbucks Coffeehouse Opened: Starbucks, the global coffeehouse chain, opened its first store in Seattle, Washington, setting the stage for the expansion of the specialty coffee industry.
  • 1982 – Coca-Cola’s Diet Coke Introduced: The introduction of Diet Coke by Coca-Cola established a new category of zero-calorie soft drinks, catering to health-conscious consumers.
  • 1992 – Red Bull Energy Drink Invented: The energy drink category gained prominence with the invention of Red Bull. It was created by Dietrich Mateschitz in collaboration with Chaleo Yoovidhya, the Thai manufacturer and founder of a drink named Krating Daeng.
  • 2015 – Hard Seltzer Popularized: Hard seltzer, or alcoholic soda water, such as White Claw and Truly, gained popularity and rode the wave of growing health-consciousness and demand for low-calorie alcoholic beverages.
  • 2020 – Consumer Behavior Changed: The COVID-19 pandemic had a huge effect on the beverage industry, leading to changes in consumer behavior, including increased at-home consumption and the rise of e-commerce sales.

Trends That May Affect M&A Activity

The following is a list of trends that can affect future M&A activity in the beverage manufacturing industry:

  • Digitalization and E-Commerce: The beverage industry is adopting digital technologies and embracing e-commerce platforms to reach consumers more effectively and offer convenient purchasing options.
  • Functional and Adaptogenic Beverages: Beverages infused with adaptogens (herbs, roots, and other plant substances), CBD, or cannabidiol, and other functional ingredients that claim to offer stress-reducing, energy-boosting, or cognitive-enhancing properties are gaining traction.
  • Health and Wellness: Consumers are increasingly looking for beverages that offer health benefits, such as natural ingredients; functional beverages with added vitamins and minerals; and low-sugar or sugar-free options.
  • Local and Artisanal Offerings: Consumers are showing a preference for locally produced and artisanal beverages, supporting small-scale producers and embracing products with a sense of authenticity and locality. 
  • Non-Alcoholic Beverages: Demand for non-alcoholic and low-alcohol beverages is on the rise, driven by health-conscious consumers, and those seeking more diverse and sophisticated alcohol-free options.
  • Personalization and Customization: Brands are increasingly offering customizable beverage options, allowing consumers to tailor drinks to their specific preferences and dietary needs.
  • Plant-Based and Dairy Alternatives: Plant-based beverages, such as almond milk, soy milk, oat milk, and other dairy alternatives continue to gain popularity among consumers seeking alternatives to traditional dairy products.
  • Premiumization: Consumers are willing to pay more for premium and high-quality beverages, including craft beers, artisanal spirits, and specialty coffees, as they seek unique and indulgent experiences.

Sustainability and Eco-Friendly Packaging: Consumers are becoming more environmentally conscious, leading to a growing demand for sustainable and eco-friendly packaging solutions in the beverage industry.

Summary of Beverage Industry Acquisitions

Summary of Acquisitions
Target Industry(Industry > Niche)TargetTarget LocationBuyer IndustryBuyerBuyer LocationDatePurchase Price
Alcoholic Beverages > High-Rated TequilaTequila PartidaUSAAlcoholic BeveragesLucas BolsNetherlandsFeb 2022$10 Million
Alcoholic Beverages > Wine, Spirits, BeerWine WarehouseUSABeverage WholesalerBreakthru Beverage GroupUSAApr 2023Undisclosed
Beverage Producer: Bottler, Specialty Alcohol and Non- Alcoholic ProductsMeier’s Wine CellarsUSAWineryVintage Wine EstatesUSAJan 2022$35.1 Million
Brewery > Craft BeerWoodhouse BrewingCanadaBreweryJunction Craft BreweryCanadaMay 2022Undisclosed
Brewery > Craft Beer, Hard SeltzerCANarchy Craft BreweryUSAEnergy DrinkMonster BeverageUSAFeb 2022$330 Million
Craft Distillery > Distilled SpiritsHoly Water DistilleryUSAAlcoholic BeverageKLYR RumUSAMay 2022Undisclosed
Non-Alcoholic Beverages > Clean Label Coffee, Tea, Botanical BeveragesJavo BeverageUSAClean-label Food IngredientsFlorida Food ProductsUSAJun 2022Undisclosed
Organic Beverages > Natural, Organic JuiceKnudsen and TruRootsUSAInvestment FirmNexus CapitalUSAJan 2022$110 Million
Private Label > Coffee Roasters and Packaging SolutionsClub Coffee LPCanadaFood and Agri-BusinessOlam InternationalSingaporeApr 2022$150 Million 
Roasting Company > Specialty-Grade, Premium CoffeeBixby RoastingUSACoffee, Tea, Extracts ManufacturerWestrock CoffeeUSAMar 2023Undisclosed
Winery > Wine and SpiritsLingua FrancaUSABeer, Wine, and SpiritsConstellation BrandsUSAApr 2022Undisclosed
Winery > Wine and SpiritsBottom Line RanchUSAWineryThe Duckhorn PortfolioUSAMay 2022Undisclosed

Lucas Bols Acquired Tequila Partida (High-Rated Tequila)

  • Date: February 2022
  • Price: $10 Million
  • Target: Tequila Partida – The world’s highest-rated tequila created from the freshest agave, a sweetener derived from the agave plant, artisanally distilled and aged.
  • Location: California, USA
  • Buyer: Lucas Bols – A leading global cocktail and spirits maker in the worldwide cocktail market and, with 450 years’ experience in distilling and blending spirits and cocktails, one of the oldest active Dutch companies.
  • Purpose: With the acquisition of Tequila Partida, Lucas Bols has entered the agave spirits market by adding an ultra-premium brand to its portfolio. The Partida Tequila brand will allow Lucas Bols to tap into one of the hottest niches in spirits.
  • Details: Lucas Bols acquired Tequila Partida in February 2022 in a two-part agreement with a fixed price of $10 million plus a smaller variable component it will pay out during the following two years.

Breakthru Beverage Group Acquired Wine Warehouse (Alcoholic Beverages)

  • Date: April 2023
  • Price: Undisclosed
  • Target: Wine Warehouse – A wine maker and distributor.
  • Location: California, USA
  • Buyer: Breakthru Beverage Group – Breakthru Beverage Group is a beverage wholesaler in North America, steering market innovation through a dynamic and perceptive approach to business. Family owned and managed, Breakthru brings a wealth of invaluable expertise to its operations spanning across the United States and Canada.
  • Purpose: “The Myerson family built Wine Warehouse around its passion as fine wine collectors and has by far the most prestigious fine wine portfolio in California, but they also assembled an excellent portfolio of emerging spirits and beer brands along the way,” said Tom Bené, Breakthru Beverage Group President and CEO. “Launching Aspect Fine Wine is the first of many investments we intend to make in the business. We couldn’t be more excited about the dedicated and experienced team on the ground and the opportunities to serve customers in California.”
  • Details: Breakthru Beverage Group completed the acquisition of California-based wholesaler Wine Warehouse, now operating as Breakthru Beverage California. The Wine Warehouse team, its northern and southern California facilities, and its diverse portfolio of wines, spirits, and beer suppliers are part of the Breakthru integration. The company also announced bringing Aspect, its specialized fine wine solution, to the California market. The Aspect team of fine wine-certified experts will enhance service to select retail and on-premise accounts.

Vintage Wine Estates Acquired Meier’s Wine Cellars (Beverage Producer)

  • Date: January 2022
  • Price: $35.1 Million
  • Target: Meier’s Wine Cellars Inc. – Meier’s is a leading producer, bottler, importer, and marketer of specialty beverage alcohol and non-alcohol products. It is the oldest and most versatile custom beverage production facility in the Midwest.
  • Location: Ohio, USA
  • Buyer: Vintage Wine Estates Inc. – Vintage Wine Estates Inc. – A family of wines and wineries focused on producing fine wines while offering an incredible customer experience, with wineries throughout Sonoma, Napa, California’s Central Coast, Washington State, and Oregon.
  • Purpose: With this acquisition, Vintage Wine Estates plans to benefit from additional future synergies gained through consolidation, operating leverage, and growth.
  • Details: The acquisition was valued at 8 x Meier’s 2021 EBITDA of CHF 35.9 million (US$39.3 million).

Junction Craft Brewery Acquired Woodhouse Brewing Co. Inc. (Brewery)

  • Date: May 2022
  • Price: Undisclosed
  • Target: Woodhouse Brewing Co. – An independent craft brewer.
  • Location: Toronto, Canada
  • Buyer: Junction Craft Brewery – Under new parent company Junction Craft Beverage Co.
  • Purpose: To add a selection of quality craft beer to complement Junction Craft Beverage Co’s growing brand portfolio.
  • Details: Woodhouse founder, Graham Woodhouse, joined Junction Craft Beverage Co. as vice president of sales, overseeing the entire brand portfolio and retaining an ownership stake in the business. Woodhouse products are now available online and at the Junction Craft Beverage Co. retail shop and taproom.

Monster Beverage Acquired CANarchy Craft Brewery (Brewery: Craft Beer, Hard Seltzer)

  • Date: February 2022
  • Price: $330 Million
  • Target: CANarchy Craft Brewery Collective LLC – A disruptive group of independent brewers providing innovative and quality flavors to craft beer aficionados.
  • Location: Colorado, USA
  • Buyer: Monster Beverage Corporation – A U.S. beverage company and manufacturer of energy drinks, including Monster Energy, Burn, and Relentless.
  • Purpose: Hilton Schlosberg, vice chairman and co-CEO of Monster Beverage, said: “This transaction provides us with a springboard from which to enter the alcoholic beverage sector.”
  • Details: The transaction brings the Cigar City, Oskar Blues, Deep, Perrin Brewing, Squatters, and Wasatch brands to the Monster beverage portfolio.

KLYR Rum LLC Acquired Holy Water Distillery LLC (Craft Distillery)

  • Date: May 2022
  • Price: Undisclosed
  • Target: Holy Water Distillery – A craft distillery producing a line of spirits called Crostwater. The company opened in 2018, and its spirit brand, Crostwater Distilled Spirits, soon began winning awards for various offerings, such as gin, vodka, spiced rum, whiskey, bourbon, and flavored whiskey.
  • Location: Pennsylvania, USA
  • Buyer: KLYR Rum – A U.S.-made silver rum that is distilled 12 times and filtered 18 times. It has zero grams of sugar and carbohydrates. KLYR Rum is available in Pennsylvania, New Jersey, New York, Florida, Las Vegas, and Trindad.
  • Purpose: “This is an exciting time for KLYR Rum, and we continue our upward momentum day after day, making the acquisition of Holy Water Distillery the next step in our expansion,” said Amish Patel, CEO of KLYR Rum.

Florida Food Products Acquired Javo Beverage Company Inc. (Non-Alcoholic Beverages)

  • Date: June 2022
  • Price: Undisclosed
  • Target: Javo Beverage Company Inc. – Javo supplies clean-label tea, coffee, and botanical extracts to foodservice and bulk ingredient companies, with a focus on beverage applications.
  • Location: California, USA
  • Buyer: Florida Food Products LLC – One of the world’s largest independent and leading innovators, formulators, and producers of naturally sourced, clean-label ingredients.
  • Purpose: To diversify Florida Food Product’s portfolio, adding new, natural ingredients while significantly enhancing its growth profile.
  • Details: The transaction was subject to customary closing conditions.

Nexus Capital Acquired The J.M. Smucker Co.’s R.W. Knudsen and TruRoots (Organic Beverages)

  • Date: January 2022
  • Price: $110 Million
  • Target: Knudsen and TruRoots – Knudsen provides natural organic juices, and Truroots is a processor of grain, beans, and seed-based products.
  • Location: Ohio, USA
  • Buyer: Nexus Capital Management LP – Founded in 2013, Nexus is an alternative asset investment management company headquartered in Los Angeles, California.
  • Seller: J.M. Smucker Co.’s R.W. – The J.M. Smucker Co. has a multifaceted portfolio, and the brand can be found in almost 90% of U.S. homes and in countless restaurants.
  • Purpose: To support Nexus Capital’s strategy to focus resources on core brands positioned for growth.
  • Details: The transaction was an all-cash deal valued at $110 million and includes TruRoots and R.W. Knudsen trademarks and assets, plus a licensing agreement for Santa Cruz Organic beverages.

Olam International Limited Acquired Club Coffee LP (Coffee Roasters and Packaging Solutions)

  • Date: April 2022
  • Price: C$150 Million
  • Target: Club Coffee LP – One of Canada’s largest packaging solutions providers and coffee roasters for the at-home niche, Club Coffee serves retail brands and private-label customers from its Toronto facilities.
  • Location: Ontario, Canada
  • Buyer: Olam International Limited – A leading food and agri-business supplying food, ingredients, feed, and fiber to 20,900 customers worldwide.
  • Purpose: The acquisition of Club Coffee aligns with Olam’s growth plan to provide natural, sustainable, value-added food and beverage ingredients and packaging to customers worldwide via a diverse channel mix.
  • Details: Olam acquired Club Coffee, subject to post-closing adjustments, at an enterprise value of C$150 million. Excluding acquisition-related charges and costs, the acquisition is forecasted to accrue to current-year earnings.

Westrock Coffee Acquires Bixby Roasting (Roasting Company)

  • Date: March 2023
  • Price: Undisclosed
  • Target: Bixby Roasting – A U.S.-based, specialty-grade roasting company.
  • Location: California, USA
  • Buyer: Westrock Coffee Company – A provider of coffee, tea, and extracts to retail, foodservice, and consumer-packaged goods sectors, Westrock Coffee is innovative and promotes large-scale digital traceability to address global beverage needs.
  • Purpose: Elizabeth McLaughlin, executive vice president of sales at Westrock Coffee, said: “The emergence of influencer-led brands has created a new sales channel in the beverage business, and Bixby is at the forefront of its development. Miles Fisher and Remington Hotchkis (co-founders of Bixby Roasting) bring a depth of knowledge on these emerging channels that we are adding to the Westrock Coffee portfolio, including the co-creation of new influencer brands that are particularly appealing to young consumers.”
  • Details: Bixby Roasting, started in 2017, made a name for itself in the emerging influencer-led brand space, and is known for roasting and shipping fresh, premium coffee direct to customers’ doors through its subscription service. The acquisition is expected to lead to new product development and ecommerce offerings for Bixby.

Constellation Brands Acquired Lingua Franca (Winery)

  • Date: April 2022
  • Price: Undisclosed
  • Target: Lingua Franca – Oregon’s Lingua Franca is the Willamette Valley wine producer founded by master sommelier Larry Stone.
  • Location: Oregon, USA
  • Buyer: Constellation Brands – One of the world’s largest wine companies.
  • Purpose: “We wanted to have a luxury Pinot Noir and Chardonnay brand in our portfolio,” said Robert Hanson, president of wine and spirits at Constellation.
  • Details: The deal included the brand, winery, vineyards, and inventory. The price was not disclosed.

Duckhorn Wine Company Inc. Acquired Bottom Line Ranch (Winery)

  • Date: May 2022
  • Price: Undisclosed
  • Target: Bottom Line Ranch – A 289-acre ranch in the San Miguel District and a sub-appellation, or smaller area, of the Paso Robles American Viticultural Areas. Planted exclusively across 265 acres of Cabernet Sauvignon, the vineyard features seven top clones on three drought-tolerant rootstocks.
  • Location: California, USA
  • Buyer: The Duckhorn Portfolio Inc. – A U.S. wine company producing varietal-labeled and blended red, white, rosé, and sparkling wines from California and Washington State.
  • Purpose: To establish a significant estate footprint on California’s Central Coast, provide the company access to high-quality Cabernet Sauvignon, and support the continued growth of its Postmark and Decoy wineries.
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Public Companies 

The following is a list of public companies that operate in the specialty food industry:

Anheuser-Busch InBev SA/NV (NYSE: BUD): Anheuser-Busch InBev, or AB InBev, is a multinational drinks group headquartered in Belgium. It is the world’s largest beer brewer by both volume and revenue, operating more than 600 beer brands in 150 countries. Its diverse portfolio includes global brands like Budweiser, Stella Artois, and Corona.

Brown-Forman Corporation (NYSE: BF.B): A Louisville, Kentucky-based corporation in the alcoholic beverage industry. The Brown-Forman is a U.S.-based company and one of the largest in the spirits and wine business. It produces well-known brands, including Jack Daniel’s, Finlandia Vodka, and Woodford Reserve.

Carlsberg A/S (CPSE: CARL B): A Danish multinational brewer. Carlsberg produces and sells beer and other beverage products in Denmark. It offers core, craft, and specialty beers, and alcohol-free brews. It is one of the leading beer producers globally, with brands including Carlsberg, Tuborg, and Kronenbourg.

Constellation Brands, Inc. (NYSE: STZ): Constellation Brands is a U.S. producer and marketer of beers, wines, and spirits. A Fortune 500 company, Constellation is the largest beer importer in the United States, measured by sales, and it has the third-largest market share of all major beer suppliers. It owns a number of iconic brands, including Corona, Modelo, and Robert Mondavi.

Diageo plc (LON: DGE): Diageo is a British alcoholic beverage multinational, with its headquarters in London, England. It operates from 132 sites around the world and is a major distributor of Scotch whisky and other spirits. Its popular brands include Guinness, Smirnoff, and Johnnie Walker.

Heineken N.V. (ENXTAM: HEIA): An Amsterdam-based company and the second-largest brewer in the world, producing the popular Heineken lager and more than 165 other beer brands.

Keurig Dr Pepper Inc. (NYSE: KDP): Formed by the merger of Keurig Green Mountain and Dr Pepper Snapple Group, this U.S. beverage group produces a variety of soft drinks, coffees, and teas.

Molson Coors Beverage Company (NYSE: TAP): Molson Coors is a Canadian-US multinational drink and brewing company headquartered in Chicago, Illinois, with main offices in Golden, Colorado, and Montreal, Quebec. Molson Coors was formed in 2005 through the merger of Molson of Canada and Coors of the United States. It offers iconic brands such as Coors Light, Miller Lite, and Blue Moon.

Monster Beverage Corporation (NASDAQ: MNST): Monster Beverage Corporation is a U.S. beverage company that manufactures energy drinks, including Monster Energy, Relentless, and Burn. It was founded as Hansen’s in 1935 in Southern California and originally sold juice products.

National Beverage Corp. (NASDAQ: FIZZ): National Beverage Corp. is a U.S. beverage developer, manufacturer, and distributor based in Fort Lauderdale, Florida, focused on flavored soft drinks. This company produces a variety of soft drinks, juices, bottled water, and energy drinks. Its well-known brands include LaCroix, Rip It, and Shasta.

PepsiCo Inc. (NASDAQ: PEP): PepsiCo, Inc. is a U.S. multinational food, snack, and beverage corporation headquartered in Harrison, New York, in the hamlet of Purchase. PepsiCo’s business encompasses all aspects of the food and beverage market. It oversees the manufacturing, distribution, and marketing of its products, including Pepsi, Lay’s, Gatorade, and Tropicana.

Pernod Ricard SA (EPA: RI): Pernod Ricard is a French company best known for its anise-flavored apéritifs Pernod Anise and Ricard Pastis. The world’s second-largest wine and spirits seller, it produces several other types of pastis, a French liqueur flavored with licorice and aniseed. Its most noted brands include Absolut Vodka, Jameson Irish Whiskey, and Beefeater Gin.

The Boston Beer Company, Inc. (NYSE: SAM): Known for Samuel Adams, its flagship brand, this Boston-based company is one of the largest U.S.-owned breweries.

The Coca-Cola Company (NYSE: KO): The Coca-Cola Company is a U.S. multinational founded in 1892, best known as the producer of Coca-Cola. The company also makes, sells, and markets other non-alcoholic beverage concentrates and syrups, and alcoholic beverages. It has over 500 brands in more than 200 countries.

Private Equity Firms

The following is a list of private equity firms investing in the specialty food industry:

  • Advent International: Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. Investments it has made in the industry include:

Devin – Bulgaria’s leading mineral water bottler and soft drinks distributor.

  • TSG Consumer Partners: A San Francisco-based firm that invests in food and beverage companies. TSG is a global leader in consumer-focused investing, with nearly $20 billion assets under management and a 30-year record of building iconic brands. Investments it has made in the industry include:

Brewdog – A multinational brewery and pub chain based in Ellon, Scotland. With production of over 800,000 hectolitres, BrewDog claims it is the “#1 Craft Brewer in Europe.” It was founded in 2007 by James Watt and Martin Dickie, who together own 46% of the company.

Duckhorn Wine Company – A U.S. wine company producing varietal-labeled and blended red, white, rosé, and sparkling wines from California and Washington State. The main winery, Duckhorn Vineyards, is outside St. Helena, California.

  • L Catterton: L Catterton is a large, well-known, consumer-focused private equity firm. It has invested in various sectors, including specialty food and beverage. The firm partners with specialty food brands to provide capital, operational support, and industry expertise. Investments it has made in the industry include:

Luigi Bosca – Winemaker Luigi Bosca was established in Mendoza by the Arizu Family in 1901. For 122 years, it has continued the founders’ tradition of making excellent wines, passing on knowledge through for generations, and achieving a leading position as the global standard for Argentine wines. Luigi Bosca is renowned for consistent quality, a deep understanding of the terroir, and a quest for excellence through innovation and technology.

Susana Balbo Wines – An export-focused winery in the Mendoza wine region of Argentina. Susana Balbo and the winery are known for a modern, balanced approach to winemaking, including a strong balance between reds, whites, and rosés. The wines consistently receive some of the highest ratings in their respective categories from the world’s most prestigious wine publications.

  • Kainos Capital: A middle-market private equity firm with a focus on the North American food and beverage sector. Investments it has made in the industry include:

Trilliant – Manufacturer of high-quality beverage solutions. Brands include Aspen Ridge, Cafe Turino, Ignitor Coffee, and Thirstix.

  • KarpReilly LLC: KarpReilly invests in the retail, e-commerce, direct-to-consumer, restaurants, consumer products, apparel, and food and beverage sectors. Investments it has made in the industry include:

KeVita – KeVita is a leading brand of effervescent, functional probiotic beverages, including its tonics, master brew kombucha, and sparkling probiotic drinks lines.

Koia – A refrigerated, plant-based protein drink made with honest ingredients without excess sugars, dairy, soy, or genetically modified organisms.

Pop & Bottle logo

Pop & Bottle – A producer of flavored almond beverages that offers a variety of delicious flavored milk beverages.

Venture Capital Firms

The following is a list of venture capital firms investing in the specialty food industry:

  • 1st Course Capital: An early stage venture capital firm investing mainly in seed and series A companies developing innovations that will positively impact the food system. Investments it has made in the industry include:

Pathwater – The first certified, refillable, and recyclable bottled water packaged in a sleek aluminum container.

  • District Ventures Capital: A venture capital fund investing in innovative companies in the food and beverage and the health and wellness sectors. Investments it has made in the industry include:

Balzac’s Coffee Roasters – Balzac’s is a chain of Parisian-style cafés offering customers an upscale, authentic French experience. It has made a name for itself by delivering high-quality products and a great in-store experience. It has a growing wholesale coffee bean business and recently expanded into a larger roasting facility to meet increased demand.

Walter Craft Caesar – Walter Craft Caesar Mix brings a healthy and clean ingredient twist to the staple Canadian beverage. It is made in small batches with no artificial colors, flavors, or ingredients, and caters to gluten-free and vegan lifestyles.

  • Gather Venture Group: Gather is an early stage venture capital firm focused on the plant-based sector. It invests in transformative founders of plant-based businesses it believes will create valuable economic opportunities and improve human health and the health of the planet.

Flying Colors Coffee Collective – Flying Colors is a multi-channel coffee collective that sources, develops, roasts, packages, and warehouses best-in-class coffee for household names and emerging brands from the Upper Midwest.

Peace Coffee – Peace Coffee is a super-premium coffee roaster based in Minneapolis. Melitas Ventures: Melitas is a venture capital fund that invests in early stage food and beverage companies throughout the value chain. It focuses on better-for-you branded food and beverage products.

Kin Euphorics – Kin Euphorics is a non-alcoholic, functional beverage designed using ingredients that nourish mind and body.

Lemon Perfect – Full of flavor and with zero sugar, Lemon Perfect is a new, naturally refreshing twist on healthy hydration.

Mud\Wtr – A coffee alternative consisting of 100% organic cacao, ayurvedic herbs, and functional mushrooms. With a small fraction of the caffeine found in coffee, Mud\Wtr provides energy, focus, and immune support without the jitters, crash, or poor sleep.


The following is a list of professionals servicing or investing in the specialty food industry:

Angel Investors

  • Loui Blake: A London-based entrepreneur, public speaker, and angel investor in the plant-based sector. He opened Erpingham House, the UK’s largest vegan restaurant, before co-founding Vegan Dough Co. In 2022, he was named CEO of Miami Foods, which redesigns foods in a way that lowers their saturated fats and high calories.

Dirtea – Offers mushroom teas, coffees, and blends for natural energy, focus, calm, and immunity.
Mike Keriakos: An entrepreneur and start-up CEO with a history of scaling companies in diverse categories. He took digital media company from a kitchen startup to the New York Stock Exchange.

REBBL Inc. – Produces plant-based beverages with herbs to nourish people and the planet.


  • CORE Food & Beverage Profit Consulting: CORE works with food and beverage services professionals to develop and execute custom solutions to improve profits, reduce costs, and create a foundation for long-term excellence. It offers coaching and consulting.
  • Food and Beverage Consulting: Food and Beverage Consulting is an Atlanta-based firm specializing in implementing internal process controls and systems that result in accurate, easy-to-use financial statements to help clients drive operational performance.
  • Food Buzz Consulting: As a team of food scientists with a combined experience of 55 years in the food and drinks manufacturing industry, Food Buzz has insider knowledge of what will work for a product from a technical and quality standpoint.
  • Haig Barrett Incorporated: Haig Barrett Food and Beverage Consulting is a full-service company that combines distribution, expansion, and strategic business development services to promote profitability, product exposure, and sales. It offers agency design services to help brands build, develop, and accelerate market revenue.

Law Firms/Attorneys 

  • Benesch Law: Benesch has been a part of the food and beverage industry for decades, working alongside clients to address the legal issues that arise from farm to table. It strives to provide expertise in the areas that are essential to food and beverage clients’ success.
  • Calfee, Halter and Griswold LLP: Across a number of diverse practice areas, Calfee attorneys have significant experience serving clients in traditional and emerging areas of the food and beverage industry.
  • Goldberg Segalla: Goldberg Segalla understands the legal and regulatory challenges facing the food and beverage industry. Its experience resolving commercial, regulatory, and product liability disputes for clients – including market-leading manufacturers of food and other products – means it provides both solutions for the complex problems facing food businesses today and practical advice to avoid potential pitfalls in the future.
  • Harris Beach PLLC: As counsel for multinational brands whose products span the globe, Harris Beach has decades of experience helping clients grow their business in the highly regulated food and beverage industry.
  • Harter Secrest & Emery LLP: Harter Secrest & Emery has a long tradition of providing legal services to agricultural, food, and alcohol beverage businesses, including dairy farmers and cooperatives, that play a vital role in the agribusiness sector of the regional economy.

Beverage Industry Associations

The following is a list of associations for the beverage manufacturing industry:

  • American Beverage Association (ABA): The ABA is a trade association representing the non-alcoholic beverage industry in the United States. It advocates for beverage manufacturers and distributors and addresses policy issues related to nutrition, health, and sustainability.
  • Brewers Association (BA): Brewers represents small and independent craft brewers in the United States. It provides educational resources, market data, and legislative support to members.
  • British Soft Drinks Association (BSDA): The British Soft Drinks Association represents the interests of soft drink manufacturers in the United Kingdom. It promotes the industry and works on policy and regulatory issues.
  • Distilled Spirits Council of the United States (DISCUS): DISCUS is the national trade association representing producers and marketers of distilled spirits in the United States. It advocates for the spirits industry and works on public policy issues.
  • European Fruit Juice Association (AIJN): The European Fruit Juice Association provides information, expertise, and advocacy on regulatory and market issues affecting the fruit juice sector.
  • International Bottled Water Association (IBWA): The International Bottled Water Association represents the bottled water industry worldwide and focuses on safety, quality, and environmental sustainability within the industry.
  • National Coffee Association (NCA): The National Coffee Association is the leading trade association representing the U.S. coffee industry. It provides research, education, and networking opportunities for its members.
  • Wine Institute: The Wine Institute represents the wine industry in California, one of the largest wine-producing regions in the world. It advocates for wine producers and promotes wine tourism and exports.

Beverage Industry Publications

The following is a list of publications in the beverage manufacturing industry:

  • Beverage Industry Magazine: The information source for analyzing trends, formulation, technology, and products shaping the beverage industry.
  • Beverage World: Beverage World focuses on soft drinks, waters, beer, wine, spirits, juices, recycling, industry suppliers, and the world. It features news and stories on critical industry issues, hot companies and products, interviews with top executives, and new developments in production, packaging, marketing and distribution.
  • BevNET: Known for its online presence, BevNET provides comprehensive coverage of the beverage industry, including product reviews, webinars, and a regularly updated news feed.
  • Just Drinks: An online resource delivering the latest news, analysis, and insights in the global beverage industry, with a focus on alcoholic beverages.
  • Beverage Digest: Beverage Digest provides industry news, insights and data to executives, marketers, sales directors, suppliers, finance professionals, and media.
  • Drinks International: Drinks International is known for its worldwide coverage of the alcohol industry, from beer to spirits to wine.
  • Craft Brewing Business: Craft Brewing Business is an online trade magazine dedicated to the business of craft brewing.
  • The Spirits Business: A global publication dedicated to spirits and the spirits industry, providing news, features, and analysis. It is the leading international spirits trade publication and at the forefront of what is happening in the spirits industry.
  • The Drinks Business: The Drinks Business is a monthly international B2B magazine and website. It covers the news and trends in the global beer, wine, and spirits industries.
  • Brewbound: A source of beer industry news and events, mainly focusing on craft beer.

Resources (Books, Podcasts, etc.)

Following is a list of resources that are focused on the beverage manufacturing industry:

  • Books
    • Milk-Based Beverages: Milk-Based Beverages, Volume 9 in The Science of Beverages series, presents current status, developments, and technologies for researchers and developers to meet consumer demand and understand consumer trends toward healthy drinks. It takes a multidisciplinary approach to address issues in safety and quality control, while discussing the nutritional and functional information that professionals in the beverage industry need. The book presents a framework for researchers, product developers, engineers, and regulators in the beverages industry for understanding new research developments in milk-based products to meet industry needs in producing competitive products.
    • Non-alcoholic Beverages: Non-alcoholic Beverages, Volume 6 in The Science of Beverages series, offers a wide range of knowledge and expertise from research professionals around the world. It focuses on the research and development of innovative products and new, growing trends based on consumer demand for natural drinks that have health benefits. The book discusses the properties and benefits of developing non-alcoholic beverages, their production particularities, associated properties, physiochemical characteristics, and methods to help researchers and students learn about non-alcoholic beverages.
    • Alcoholic Beverages: Alcoholic Beverages, Volume 7 in The Science of Beverages series, is a multidisciplinary resource for anyone who needs deeper knowledge on the most recent approaches in beverage development, technology, and engineering, along with their effects on beverage composition, quality, sensory, and nutritional features. The book discusses the main alcoholic beverages, such as spirits and wines, and they are thoroughly analyzed in terms of production, sustainability, and future perspectives. It offers examples of the new trends and the most recent technologies and approaches in the industry of alcoholic drinks.
  • Podcasts
    • Beverage Industry Magazine Podcasts: On the job, in the car, or at the end of the day, Beverage Industry magazine’s podcast channel provides industry news and engaging interviews that keep listeners up to date, informed, and entertained.
    • Business of Beverages: A podcast for curious people working in the beverage industry – from marketers to makers, from brewers to bartenders, from distillers to drinkers. Each episode brings insights relevant to everyone in the beverage industry who wants to build their knowledge about the people, products and plans behind the liquids. Hosts Will Keating and Pádraig Fox bring their experience, wit, and charm to interviews with guests who are a mix of true subject matter experts, cutting edge innovators, and living legends.
    • Legends Behind the Craft: The Legends Behind the Craft podcast features top leaders in the wine and craft beverage industry.
    • Beertruth: The Beertruth podcast takes a look at the craft beverage industry by talking with brewers and industry professionals to learn what drives and inspires brewers, what their stories are, and yes, what their favorite hops are.

Industry Information

  • NAICS Codes
    • 3121 – Beverage Manufacturing
    • 312111 – Soft Drink Manufacturing
    • 312112 – Bottled Water Manufacturing
    • 312113 – Ice Manufacturing
    • 312120 – Breweries
    • 312130 – Wineries
    • 312140 – Distilleries
    • 4248 – Beer, Wine, and Distilled Alcoholic Beverage Merchant Wholesalers
    • 424810 – Beer and Ale Merchant Wholesalers
    • 424820 – Wine and Distilled Alcoholic Beverage Merchant Wholesalers
    • 4453 – Beer, Wine, and Liquor Retailers
    • 445320 – Beer, Wine, and Liquor Retailers
    • 7224 – Drinking Places (Alcoholic Beverages)
    • 722410 – Drinking Places (Alcoholic Beverages)
  • SIC Codes
    • 5182 – Wine and Distilled Alcoholic Beverages
    • 51820101 – Brandy and Brandy Spirits
    • 51820102 – Wine Coolers, Alcoholic
    • 51820201 – Cocktails, Alcoholic: Premixed
    • 51820202 – Neutral Spirits
    • 518299 – Wine and Distilled Beverages, Not Elsewhere Classified (NEC)
    • 51829901 – Bottling Wines and Liquors
    • 2082 – Malt Beverages Liquors, Malt
    • 5813 – Drinking Places (Alcoholic Beverages)
    • 2085 – Distilled and Blended Liquors
    • 2086 – Bottled and Canned Soft Drinks and Carbonated Waters
    • 2084 – Wines, Brandy, and Brandy Spirits

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