Dutch drinks firm Lucas Bols has acquired Fluère, a premium alcohol-free spirits brand from the Netherlands. The approximately $1.05 million deal was completed January 1.
The move represents a strategic opportunity for Lucas Bols to broaden its portfolio and leverage the consumer trend towards mindful drinking, according to a statement. No longer a niche, the fast-moving low- and no-alcohol segment has evolved into a $10 billion global business.
Founded in 2018 by Dutch entrepreneurs Léon Meijers and Alfred Sandee, Fluère is sold in more than 20 countries, with a presence across Europe and in a limited number of U.S. states. The brand’s four expressions— Original, Raspberry, Spiced Cane, and Smoked Agave— are styled after gin, rum, and mezcal. A fifth release called Bitters will launch in February 2023, with the goal of expanding “cocktail possibilities.”
The brand will be added to Lucas Bols USA’s distribution platform; the brand’s priority will be to bolster Fluère’s presence on-premise, while also strengthening its retail position. Meijers and Sandee will remain fully involved in the brand’s development for at least two years.
“By leveraging our strong distribution platform and on-trade expertise we can accelerate Fluère’s scale up,” said Huub Van Doorne, CEO of Lucas Bols. “We look forward to working with Léon and Alfred to explore all synergies between Fluère and our other cocktail brands.”
Founded in 1575, Lucas Bols has kept up its relevance in the spirits world with on-trend acquisitions made over the past few years. Fluère joins a portfolio of over 20 premium plus brands, including Tequila Partida, which was acquired in a $10 million deal last year. Lucas Bols also owns passion fruit liqueur Passoã, following Rémy Cointreau’s exit in 2020.
This isn’t the spirit producer’s first foray into the segment, having previously introduced a zero-proof version of its Damrak gin in 2020. The no/low category is projected to grow 8.0% in volume from 2021 to 2025, which will amount to 126.4 million more cases produced globally, according to data from the IWSR’s 2022 No- and Low-Alcohol Strategic Study.
Fluère was previously bought by Next Frontier Brands in February 2021, but it was repurchased by the brand’s founders in January 2022. The current deal includes potential earn-out payments related to targets set for net revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) over a three-year period.
In related news, Lucas Bols and fellow Dutch producer De Kuyper also offloaded alcoholic beverage manufacturer Avandis to Refresco Group for $24.2 million on Jan 2.