Keurig Dr Pepper Inc. (NASDAQ: KDP) announced today a definitive agreement to acquire the global rights to the non-alcoholic, ready-to-drink cocktail brand Atypique from Station Agro-Biotech, a Quebec-based company that specializes in the manufacturing and marketing of alcoholic and non-alcoholic beverages. Terms of the deal, which is expected to close in early Q4, were not disclosed.
Atypique is a highly unique offering in the emerging and fast-growing non-alcohol cocktail segment, providing a range of ready-to-drink cocktails, such as margaritas, gin & tonic and mojitos. In Canada, non-alcoholic cocktails grew more than 30 percent in retail dollar sales during the last year, and Atypique now has a 42 percent market share of that segment, where it is distributed.
The agreement includes a multi-year collaboration between the two companies to fuel accelerated growth for Atypique, leveraging Station Agro-Biotech's R&D expertise in the category and KDP's robust sales and distribution network.
"At Keurig Dr Pepper, we strongly believe in innovation to drive growth to meet the evolving beverage needs of consumers," said Ozan Dokmecioglu, CFO & President of International. "We are excited to add this new platform to our powerful portfolio in Canada, and the global rights to Atypique provides optionality to further expand the brand's growth potential." Olivier Lemire, President of Keurig Dr Pepper Canada, added, "Atypique is a great complement to our successful ready-to-drink alcohol portfolio, and we look forward to continue innovating around this brand to drive accelerated growth."
"We were looking for the best way to bring Atypique to the next level. This agreement represents an exceptional opportunity to work with a beverage industry leader, and Keurig Dr Pepper will bring market knowledge and strength to the Atypique brand," said Jonathan Robin, President, Station Agro-Biotech. "At the same time, we are delighted to have the opportunity to keep growing and innovating within a category in full effervescence and have more time to spend doing R&D in the broader beverage space."
Étienne Boulay, cofounder of Atypique, ex-Canadian star football player, TV and radio host added, "Atypique is meant to push the limits of the ready-to-drink industry by offering outside-the-box, beyond-the-normal-standard products, and this collaboration will allow the brand to continue to do just that. I can't wait to see where this will take Atypique."