Mt. Kisco, New York - Craft adult beverage brand builder and investment firm Spiritus Ventures has announced the acquisition of No. 96, an established, award-winning provider of premium ready-made cocktails.
Specialized in bringing high quality ready-to-drink (RTD) adult beverage companies to the market, Spiritus Ventures optimizes the commercialization process for these beverage brands by offering investment, expertise, and commercial distribution support.
No. 96 stems from the history of the famous Manhattan Club from the late 1800s which was housed in The Benkard Mansion on 96 Fifth Avenue in New York, the center of the trendy club scene at the time and the birthplace of the popular cocktail. The No. 96 Manhattan Cocktail was developed at the beginning of the global pandemic and went through several iterations before it was perfected and first marketed in southern California in September 2021.
The ready-to-drink (RTD) segment is expected to grow from USD$ 749 billion to USD$1.155 billion by 2030 with an impressive CAGR of 6.38% during this forecast period according to Fortune Business Insights™. Research company IWSR, which specializes in the alcoholic drinks market, predicts that by 2025, spirits-based RTD beverages such as pre-mixed cocktails will surpass hard seltzers to become the dominant segment in the RTD market. This surge is primarily attributed to consumers' growing preference for higher-quality products.
We are very excited to welcome No. 96 to our growing portfolio of premium RTD adult beverages. We see a fantastic opportunity for the brand to tap into the rising demand for handcrafted, high-quality pre-mixed cocktails in the luxury hospitality and F&B industry in response to changing consumer expectations, especially amongst the younger and more discerning guest. Gjon Lulgjuraj, Founder of Spiritus Ventures
RTD beverages are not just on the rise in retail but are also ideal for luxury hotel minibars and F&B outlets, premium in-flight catering and onboard cruise ships, as well as for bespoke branded gifts or welcome drinks for meetings, incentives, conferences and event (MICE).
RTD cocktails are at the forefront of beverage trends and we have identified the hospitality and F&B industry as a unique opportunity to get these exceptional beverages in front of buyers. By incorporating RTD cocktails into your hotel or restaurant offerings, you not only stay on-trend but also provide a convenient and high-quality option for guests, adds Lulgjuraj.
Find out more about No 96 at www.no96.co and @no96.co on Instagram.
To learn more about Spiritus Ventures please visit https://spiritusventures.com/.
GAIN - Growth Advisors International Network