Today, Anheuser-Busch (A-B) announced it had purchased Hoop Tea, an Ocean City, Maryland based beverage company known for its iced tea infused malt beverages and tea-infused seltzers, inspired by the founder’s love for beach culture. Hoop Tea will be integrated in A-B’s Beyond Beer portfolio which includes brands such as Cutwater Spirits, Babe Wine and Bon & Viv Spiked Seltzer. Hoop Tea’s founder and CEO Danny Robinson along with the company’s Vice President, Billy Gilman who has joined the team at Anheuser-Busch and will continue to lead the company. Terms of the deal were not disclosed.
A-B’s Beyond Beer portfolio has captured more than USD 1 billion in revenue over the last three years through a combination of organic brand building, strategic acquisitions, and innovative partnerships. "There's a huge world out there outside of beer, and it's a big part of our company's strategy to source growth from the Beyond Beer segment," said Fabricio Zonzini, president of Beyond Beer at A-B earlier in an interview with Forbes.
The strategy is similar to that of Molson Coors, which is also aggressively trying to diversify its product portfolio in other fast-growing beverage segments of the market, not only in the US but also in Europe and in other parts of the world. (inside.beer, 9.4.2021)
Hoop Tea was born from the mindset that the beach isn’t only a geographic location, but a way of living, A-B said in a press statement. From beach bars up and down the east coast to landlocked states without shores in sight, Hoop Tea evokes the laid-back beach culture of Ocean City, Maryland with each and every sip, the statement continues.
Hoop Tea offers spiked teas in flavors like White Mango, Watermelon Mint, Pineapple Passionfruit, and Peach Tea Lemonade. In addition, the brand will continue offering Hoop Tea Aire hard seltzer flavors in Goji Berry Green Tea, Orange Hibiscus and Kiwi Berry. The brand offers a variety of SKUs including single-serve cans, variety packs and ready-to-share pouches.
“The team at Hoop Tea has created an incredible brand with an even better product offering,” said Fabricio Zonzini, Beyond Beer President, Anheuser-Busch. “I look forward to working alongside Hoop Tea’s founder, Danny Robinson, and Vice President, Billy Gillman, to develop and grow the brand to its full potential.”
“Joining Anheuser-Busch is a perfect fit for us because we share a culture of daring innovation and strategic growth,” says Danny Robinson, Founder & CEO of Hoop Tea. “Hoop Tea’s roots were planted in a laid-back beach town and we’ve relentlessly strived to build and develop our brand over the past several years. Working with the team at A-B is like hanging out with old friends and we’re excited to do some really cool things together.”