Asahi Beverages has acquired the premium adult soft drink brand Strangelove. Founded in Byron Bay in 2013, Strangelove has differentiated itself through eclectic flavours and branding.
With products such as Tonic No. 8, Salted Grapefruit, Double Ginger and a range of premium Sparkling Waters, Asahi said it has more than doubled in volume and revenue in the last two years. The company now has 25 products in its Premium Mixer, Lo-Cal Soda and Mineral Water ranges.
Most recently Strangelove added select Woolworths stores to its stockists.
The company was founded by James Bruce and Stafford Fox, who started the business in Byron Bay.
Asahi Beverages Group CEO Robert Iervasi said Strangelove’s growth was evidence the market for sophisticated and lower-sugar soft drinks was growing.
With scope to have a large impact on the hospitality sector, Iervasi said he expects Strangelove to “really shake things up” as an on-premises premium mixer and adult soft drink.
“This deal will also strengthen our offer to retailers, which are dedicating more shelf-space to premium non-alcohol beverages. StrangeLove complements our leading portfolio of beverages, and we are absolutely thrilled to add StrangeLove to the Asahi Beverages family,” Iervasi said.
Strangelove co-founder James Bruce said the deal would allow the brand to “speed up” its mission to “revolutionise the adult soft drink market with more imaginative and high-quality beverages”.
“With their FMCG-expertise and long-standing customer relationships in retail, hospitality and beyond, Asahi Beverages will help grow StrangeLove in a way we couldn’t on our own.
“The StrangeLove management team and I will remain in our roles at the business, and we’re excited and committed to its long-term growth. This means the acquisition won’t affect day-to-day operations and nothing will change for our customers and consumers. We’ll continue to challenge the status quo with imaginative, innovative and adult flavours, using real ingredients sourced, where possible, from local farmers and producers,” Bruce said.
