FX Matt Brewing Company has made another strategic acquisition, this time in the spirits category.
The Utica, New York-based brewery has acquired spirited-based RTD company ’Merican Mule, headquartered in Norwalk, Connecticut. ’Merican Mule makes vodka-, tequila-, rum- and bourbon-based RTDs, which are distributed across 18 states. The company’s acquisition will “dramatically increase” the brand’s distribution and presence, according to a press release.
’Merican Mule will be a part of Right Coast Spirits, a joint venture between FX Matt, Flying Dog (which FX Matt acquired in 2023) and Mass. Bay Brewing-owned Harpoon Brewery.
“The quality and unique positioning of ’Merican Mule’s products align perfectly with our vision of delivering exceptional and innovative beverages,” FX Matt president Fred Matt said in a press release. “We see tremendous potential in the Moscow Mule subcategory within RTD and are excited to lead growth with ’Merican Mule as a flagship brand in our Right Coast Spirits division.”
Right Coast’s portfolio also includes Right Coast Vodka Whips and Margarita Whips, as well as Right Coast Italian Ice, a vodka-based RTD launched in two flavors earlier this month.
“The opportunity to hand the reigns (sic) of our special brand to an industry veteran like FX Matt sets ’Merican Mule up for continued momentum and massive growth,” ’Merican Mule founder Dean Mahoney said in the release.
The acquisition comes less than a year after FX Matt acquired Frederick, Maryland-based Flying Dog Brewery and moved the craft brewery’s production to Utica. The combined companies were the 13th largest Brewers Association-defined craft brewery by volume in 2023, moving up from No. 12 (FX Matt) and No. 34 (Flying Dog) in 2022.
In 2023, ’Merican Mule dollar sales declined -43.7% in NIQ-tracked off-premise channels (total xAOC + liquor plus + convenience), while volume declined -51.5%. Declines have accelerated in Q1, with dollar sales in the last 13 weeks (ending March 23) declining -68.6% year-over-year and volume -72.1%.
The ’Merican Mule website is under construction, and the company has not posted on its social media pages since October.
Financial details of the deal were not disclosed, and details on any leadership changes were not shared as of press time.