Luxco adds VEEV Spirit brands to portfolio
St. Louis-based Luxco has entered into an agreement to acquire Los Angeles-based VEEV Spirits from founders Courtney and Carter Reum.
Appealing to today's discerning millennial consumer, VEEV's portfolio includes award-winning brands VEEV Spirit, a 70 proof vodka alternative, and VitaFrute Cocktails by VEEV, the first line of certified organic ready-to-drink cocktails. The terms of the deal were not disclosed.
"This is an incredible day for VEEV Spirits," said Courtney Reum, VEEV co-founder. "We started this company with a vision of creating A Better Way To Drink and changing the way people think about the alcohol industry, and Donn Lux and his team share our values and will help these brands reach their full potential."
VEEV's innovative products and commitment to environmental initiatives impressed Luxco, who is excited to tout VEEV's all-natural product lineup to more consumers.
"We believe in Carter and Courtney's vision and are thrilled to be adding these brands to our portfolio," said David Bratcher, President and COO of Luxco. "VEEV and VitaFrute's premium quality, progressive positioning and commitment to sustainability resonate with today's millennial drinkers. The brands are a perfect fit for our established portfolio of rapidly-growing products."
VEEV, which was launched in 2007, was honored as an Inc. 500 Fastest Growing Private Companies in America and named one of Beverage Information's Rising Stars. It was also a recipient of the Technomic Fast 50 Award. The company recently unveiled VEEV 2.0 - reformulated from 60 proof to 70 proof and more versatile than ever, VEEV is now positioned as a better alternative to vodka. In 2012, VEEV reinvented the ready-to-drink (RTD) category with VitaFrute Cocktails by VEEV, the first line of certified organic RTD cocktails. Available nationwide, the brand continues to gain momentum with millennial consumers.
Source: Company Press Release