US – American producer and marketer of beer, wine, and spirits Constellation Brands has invested in California’s Hop Wtr, a non-alcoholic, calorie-free sparkling water.
Founded in 2020, the sparkling water is reportedly infused with a blend of Columbus and Centennial dry hops and notes of citrus as a nod to an IPA.
Hop Wtr is also spiked with a proprietary blend of adaptogens and nootropics, including L-theanine and ashwagandha.
Its unique positioning as a calorie-free beer alternative with a functional benefit makes it an attractive investment opportunity for Constellation Brands which seeks to tap the potential existing in both alcohol alternatives and functional beverages.
The non-alcoholic segment of total beverage alcohol has, for instance, experienced rapid growth in recent years, with the segment growing 37% in 2020 according to Nielsen data.
In addition, IWSR research has found that 58% of consumers are switching between non-alcoholic or low-alcoholic and full-strength drinks in the same occasion.
“The functional beverage category continues to show strong potential and is well-aligned with today’s growing consumer preferences for wellness and betterment,” said Jennifer Evans, vice president, Constellation Ventures.
“Nick and Jordan have taken a consumer-first approach in building a great product and brand, and through this investment we expect to learn more about what resonates with consumers in this fast-growing space.”
Constellation’s investment was made through the company’s venture capital group and Hop Wtr remains independently owned and will continue to manage, market, and produce its brand and products.
Primo Water expands presence in Northwestern United States
Meanwhile, Primo Water Corporation has bought all the home and office delivery assets of the Health Waters of Pennsylvania.
Health waters of Pennsylvania has been a distributor of Mountain Valley Water and importers of many European water brands.
It’s home and office delivery business naturally became a target of Primo Water Corporation when it acquired Mountain Valley Water Company of Los Angeles for an undisclosed figure in 2019.
The corporation now says the acquisition will help it expand Mountain Valley Spring Water products offerings in the Northeastern United States.
“We are excited to acquire this additional Mountain Valley customer base in the Northeast,” said Primo Water’s CEO, Tom Harrington.
“The acquisition improves customer density in the region and furthers our vision of providing pure-play water solutions whenever, wherever and however our customers want them.”
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