Dive Brief:
Ready-to-drink cocktail company Canteen Spirits signed a distribution deal with Anheuser-Busch and received an undisclosed investment from its parent company AB InBev s investment and innovation arm ZX Ventures. Canteen Spirits will join Anheuser-Busch’s Beyond Beer portfolio, which launched in 2018 to capitalize on the growing seltzer, wine, spirits and malt-based beverages segment.
Canteen Spirits makes a vodka-based cocktail called Canteen with seven flavors, and a tequila-based drink called Cantina that has three flavors. The beverages have low carbs and ABVs, and are made with natural flavors and no sugar. They are currently sold nationwide.
Premium beverages and ready-to-drink cocktails have grown during the pandemic as consumers increased their at-home drinking. Demand for low alcohol beverages, increasing health consciousness and preference for premiumization and convenience are driving market growth.
Governor Greg Abbott’s approval was not unexpected, but it ends the uncertainty of whether the option of buying alcohol to-go would remain post-pandemic.
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