By buying a minority stake in California-based Swish Beverages, AB InBev has made another inroad into the wine business through its venture arm ZX Ventures. As just-drinks reported on Tuesday this is already the second time the largest brewer invests in a wine company. Already earlier the company bought a stake in Electric Sky Wine, a company selling single-serve wine cups. Details about the size of the stake or the value of the transaction of either of the two transactions were not disclosed.
"We are, first and foremost brewers, and we are committed to elevating the beer category by providing consumers with more choices and new occasions to enjoy beer," AB InBev said. "ZX Ventures has made this minority investment because it believes SWISH has the potential to disrupt the traditional wine industry by offering unique choices that capture the tastes of its Millennial following," the brewer went on.
Swish Beverages is a Caifornian wine brand produced at O'Neill Vinters & Distillers. The company was founded in 2015 by social media personality Josh Ostrovsky (aka "The Fat Jew"), David Oliver Cohen and Tanner Cohen (the brothers behind the White Girl Problems book series) and Alexander Ferzan. In June 2015 the founders launched their first product calledWhite Girl Rosé, a blend of Sauvignon Blanc and White Zinfandel. One year later, in June 2016 was the next release with Babe Rosé, a canned sparkling rosé followed by Family Time Is Hard, a Pinot Grigio in December 2016 and Pink Party Rosé, a sparkling rosé in a champagne bottle in July 2017.