As Australians seek healthier alternatives to traditional pleasure foods, the alcohol sector is following the same trend, prompting beer and liquor company Founders First (ASX: FFL) to secure equity in Torquay Beverage Company in preparation for the launch of a new seltzer range.
Produced by TBC, NoSH Boozy Seltzer will be sold in more than 500 retail liquor stores across five States from October onwards, with Founders First exercising convertible notes held to secure 50% equity in TBC.
Invented by TBC Founder and CEO Nick Cogger, NoSh Boozy Seltzer is created through a fermentation process, removing almost all sugars to create a low sugar, lower calorie, low carbohydrates alcoholic beverage. It is then blended with natural flavours where customers can choose from either Mango & Pineapple, or Peach. The same process is also used for TBC’s alcoholic kombucha brand, KBOOCH.
“From idea to launch in less than six months is a great achievement in anyone’s language. Nick is a truly innovative young Australian entrepreneur, and we have a very productive business partnership with a number of new product launches on the horizon,” said Founders First CEO, Mark Haysman.
“It’s great to have the endorsement of Dan Murphy’s, BWS and the independent channel to bring NoSh to life. We see a lot of potential for this brand on-premise as well.”
In the United States, there is a rapid emergence of healthier alcoholic beverages which are classified as ‘Better for You’ alternatives, which saw more than 300% sales volume growth between 2015 and 2019.
With the equity partnership alongside Founders First, TBC will be further promoted through Founders First channels as the distributor seeks to build the world’s strongest craft beverage collective by supporting independent brewers and distillers.
“We love the partnership from Founders First and Mighty Craft. With their backing, insights and expertise we are able to move at pace to develop liquid, packaging and a go-to-market strategy and push the limits with our beverage creation,” said Cogger.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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