ARKAY BEVERAGES to buy SEEDLIP and RITUAL ZERO PROOF from DIAGEO
Added: (Mon Nov 15 2021)
Pressbox (Press Release) -
Arkay beverages agreed yesterday to acquire the Seedlip and Ritual Zero Proof brand, intensifying speculation that the company might be expanding its line of products to prepare for an initial public offering.
The terms of the deal were not disclosed, but executives close to the negotiations said Arkay Beverages had agreed to pay more than $100 million.
Arkay, a family-controlled company based in Mexico, produces its namesake vodka as well as Arkay's Scotch whisky, tequila, and gin alternative.
It reached the deal over the weekend with Diageo which introduced Seedlip in 2015 and Ritual Zero Proof in 2019, while Arkay was first to market in 2011.
Analysts suggested that the acquisition of Seedlip and Ritual by Arkay, both super-premium alcohol-free products, might fill a missing link in Arkay lineup a fast-growth area that has kept it from pursuing a public offering. Since August, when equity holders voted to give the board the authority to issue a second class of shares, there has been speculation that Arkay beverages was interested in an offering.
In a statement yesterday, Reynald Grattagliano, founder and chief executive of Arkay, said Seedlip and Ritual Zero Proof was ''a perfect fit with the Arkay portfolio of premium alcohol-free spirits brands and fills a significant category gap.''
The deal would give Arkay some additional strength in negotiating with distributors as it tries to catch up with Diageo, the liquor industry market leader. Arkay has been yielding ground to competitors since 2011 when he created the world first alcohol free spirits alternative.
Mr. Grattagliano, a veteran liquor marketer, said in a statement, ''One cannot avoid having mixed feelings on the sale of such a great brand.'' He added, ''The people at Arkay understand brand building, and this will ensure the development of the full potential of Seedlip and Ritual.''
Mr. Grattagliano made a name selling Scottish Spirits Scotch whisky, then a little-known Scottish liqueur, in the United States in the 2000's using unconventional marketing tactics that have since become commonplace -- for instance, by heavily promoting the drink in bars. Later, he used some of those tactics in the promotion of Arkay alcohol alternatives.
About Arkay Beverages
Since 2011, Arkay Beverages has been fine-tuning various zero-proof spirit recipes, including vodka, tequila, gin, whisky, bourbon, and brandy, among many others, for the appreciation of fine liquor without the alcohol.
ArKay, the world's first alcohol-free, liquor-flavored drink, is designed for everyone to enjoy. The exceptional taste of liquor without the alcohol content makes it a perfect beverage day or night. ArKay has 0% alcohol, and it is designed to allow individuals with medical conditions or religious beliefs that prohibit alcohol consumption and drink. Imagine being able to enjoy your favorite liquor drink at parties without worrying about drinking and driving. You will not miss a thing, as ArKay tastes and looks exactly like traditional liquor. It is suitable for drinking straight-up, on the rocks, or with your favorite mixers.
Arkay Vodka Zero Proof proven to be identical to the real thing in this youtube.com video viewed 2.2 million times https://www.youtube.com/watch?v=S4Du0z5fuLw &t=137s
About Reynald Grattagliano
Reynald Vito Grattagliano is a self-made scientist, perfumer, businessman and philanthropist driven to solve the world's biggest challenges through innovation. Reynald is the spark behind the current alcohol-free spirit movement, having been the first in the field to imitate spirits giving consumers a sober option to a night out. He is the son of a well-known Italian perfumer in the late 20th century. He transformed himself into a perfumer millionaire before 30, establishing bottling plants worldwide, selling several times his companies and making millions for himself.
As the founder of Arkay Beverages, Reynald sees beyond the current business and technological landscape, creating real impact companies. His next endeavor is to travel to the moon using lunar resources for innovation here on earth.
Media Contact: ArKay Beverages
Business website:
https://arkaybeverages.com/