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Mike's Hard Lemonade explores sale

DBR Staff Writer Published 06 February 2015

Mike's Hard Lemonade is in the initial stages of exploring a sale, which could value the malt beverage brand at around $1bn.

Mike's Hard

A sale process has been initiated by the company, which could draw the interest of large companies, Reuters reported, citing two people familiar with the matter.

Mark Anthony Group, the parent company of Mike's Hard Lemonade's, may decide against the sale if it does not receive the value it is looking for.

Founded in 1999, Mike's Hard Lemonade sells beverages mixed with vodka, which can be consumed as an alternative option to beer and cocktails.

The firm also sells alcoholic beverages in black cherry, classic margarita, mango punch and blood orange flavors.

Earlier in 2014, the company revamped its packaging and introduced new flavors such as Mike's Hard Peach Lemonade and a mango lemonade flavor.

These changes were done to combat competition from rivals including Anheuser Busch InBev and MillerCoor, reported the news agency.

Last June, Mike's Hard Lemonade also announced plans to sell several of its flavors in smaller 8oz cans with an aim to target health-conscious and on-the-go consumers.

The malt beverage category generates around $1.7bn in sales, according to the company.


Image: Mike's Hard Lemonade sells beverages mixed with vodka, which can be consumed as an alternative to beer and cocktails. Photo: courtesy of Myke2020 / Wikipedia.