![]() Those partnerships came as the hard seltzer segment decelerated this summer, confounding some Wall Street analysts as the company cut projections for shipments and depletions growth from a previously convey 40-50% to between 25-40%. Early products expected to come from the JV include Truly Hard Seltzer-branded spirits, which Beam Suntory will produce, and Sauza Tequila-branded flavored malt beverages, which Boston Beer will produce. In July, the company revealed a joint venture with spirits behemoth Beam Suntory that will cross categories for both companies. The Finnish Long Drink closed on a $25 million funding round this year led by New York-based investment management firm Neuberger Berman that included actor Miles Teller, DJ Kygo and pro golfer Ricky Fowler, with other backers including Founders Brewing Company co-founder Mike Stevens and NFL player Dalvin Cook.īoston Beer has been aggressive in seeking what’s next, announcing in August a partnership with PepsiCo to create Hard MTN Dew, a 5% ABV flavored malt beverage. Meanwhile, The Finnish Long Drink, another brand built off the Finnish staple, launched in the Midwest after rolling out in California, Florida and Arizona in late 2020. Earlier this summer, Hartwall Original Long Drink, which first produced the cocktail after the Finnish government commissioned it, launched in California, Georgia, New York, Connecticut, Rhode Island, and Massachusetts. Boston Beer’s entry into the Long Drink space comes as others have tried to stake claim in the U.S. ![]()
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