No-ABV brand Lyre’s valued at £100m

Non-alcoholic ‘spirit’ brand Lyre’s has been valued at more than £100 million (US$138.7m) after completing its latest seed-plus funding round. The valuation, achieved in under 24 months of trading, makes Lyre’s the ‘most valuable’ independent non-alcoholic ‘spirit’ brand to date, the company said. Available in 43 countries, Lyre’s has reported double-digit revenue growth month on month, and forecasts sales to exceed £35m (US$48.6m) this fiscal year. Mark Livings, Lyre’s co-founder and CEO, said: “It’s truly…

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Strykk taps into RTD trend

Non-alcoholic ‘spirits’ brand Strykk has unveiled a range of ready-to-drink (RTD) cans to tap into the trend for convenient beverages. The Strykk RTD range includes Strykk Not G*n and Tonic, and Strykk Not R*m and Cola. The 250ml serves contain 0.5% ABV and are aimed at consumers looking to cut down on their alcohol intake, without compromising their lifestyles. Alex Carlton, CEO and founder of Strykk and parent company Elegantly Spirited, said: “There are eight…

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Next Frontier buys alcohol-free brand Fluère

Wellness company Next Frontier Brands has acquired non-alcoholic ‘spirits’ producer Fluère Drinks for an undisclosed sum. Produced in the Netherlands, the Fluère range includes the Original, Spiced Cane Dark Roast, Raspberry Blend and Smoked Agave expressions. The products are available in more than 30 markets, including the UK, US and Asia Pacific. “Fluère is the category leader in distilled non-alcoholic ‘spirits’,” said Jason Roth, co-founder and chief strategy officer for Next Frontier Brands. “Fluere’s products…

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Distill Ventures invests in Rheinland Distillers

Diageo-backed Distill Ventures has made a minority investment in Siegfried Dry Gin producer Rheinland Distillers. The funding will help Rheinland Distillers, which also producers alcohol-free ‘alternative gin’ Siegfried Wonderleaf, to drive growth and amplify both brands. Rheinland Distillers was founded by two friends, Raphael Vollmar and Gerald Koenen, in 2014. The pair set out to ‘disrupt’ the gin category with their alcoholic and non-alcoholic offerings. Vollmar, managing director of Rheinland Distillers, said: “At the beginning,…

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Low-alcohol trend proves popular in UK

On-trade sales of low- and no-alcohol drinks have risen by 48% in the UK over the last 12 months, according to a new report by data analyst CGA. The report, called Understanding moderation in the on-trade, values the no-and-low-alcohol category as a £60-million-a-year sector in the UK on-trade – around US$78m. The study also showed the growth of non-alcoholic options alone grew by 80% during the same 12-month period. Further findings from the report revealed…

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