Two Byron Bay partners’ nine-year adventure building premium soft drink and mixer brand StrangeLove has come to an end, with the Australian arm of Japanese brewing giant Asahi acquiring the brand for an undisclosed sum.
The founders, James Bruce and Stafford Fox, are childhood friends and started their business in 2013, creating high quality waters as well as name blends such as Tonic No. 8, Lo-Cal Yuzu, Double Ginger. The business hit the bullseye during the pandemic, with sales doubling in the past two years.
Their first example was organic ginger beer, followed by blood orange and chili and grapefruit bitters. The StrangeLove range of mixers was launched in 2016, just as the local craft spirits sector hit the bullseye. In the year In 2018, they launched the Lo-Cal Soda range and now there are 25 products in the range, including mineral water. StrangeLove has become a rival to UK premium tonic brand Fever Tree in the mixer market and premium Woolworths stores have recently started stocking the brand.
James Bruce said that despite “our own amazing nine years”, the Asahi deal will allow them to take the business to another level.
“This agreement represents an incredible opportunity to accelerate StrangeLove’s mission to transform the adult soft drink market with more innovative, high-quality beverages,” he said.
“With their experience in FMCG and customer relationships across retail, hospitality and beyond, Asahi Beverages will help us grow StrangeLove in ways we couldn’t have done on our own. They share our absolute commitment to quality and we are impressed by how they support their fellow artisans to retain their unique identity and foster creativity.
The StrangeLove management team and Bruce will remain in their roles in the business.
“We are excited and committed to its long-term growth. This means that the acquisition will not affect day-to-day operations and will have no impact on our customers and users.
Asahi Beverages CEO Robert Irvasi said Australians are looking for more sophisticated, low-sugar soft drinks and sees huge potential for the brand in the hotel industry.
“We are excited about the impact StrangeLove will have in restaurants, cafes, hotels and bars,” he said.
“We expect StrangeLove to shake things up with its pre-premium blends and mature soft drink space, with a high-quality, Australian-made brand. This deal will strengthen our offering to retailers offering additional shelf space for premium non-alcoholic beverages.”
Australia’s soft drinks market is worth nearly $2.8 billion, with sales of premium mixers up 40 per cent over the past three years and adult soft drinks up 65 per cent, down from lows as drinkers no longer want alcohol options.
