The M&A that shaped the drinks industry in 2025

Portfolio pruning successful spirits and wine, large moves successful functional drinks and important transactions successful emerging markets person been among the dynamics driving the deal-making successful the drinks manufacture implicit the past 12 months.

Our deals pages sought to bring you extended sum of the M&A announced crossed the assemblage past twelvemonth and present we circular up the large deals struck successful 2025.

The archetypal period of the twelvemonth saw Diageo proceed its moves to offload assets with the announcements of 2 disposals – the merchantability of Cacique rum to La Martiniquaise-Bardinet and different determination to trim its footprint successful Africa with a woody for its involvement successful Guinness Ghana Breweries. Castel Group snapped up the shareholding for $81m.

In the mediate of the month, 1 of the large deals of 2024 was finalised. On 17 January, Carlsberg’s acquisition of UK brushed drinks large Britvic became effective.

And Molson Coors Beverage Co. grabbed the headlines with a determination to get an 8.5% involvement successful UK-based tonic and mixer shaper Fevertree Drinks.

The Coors Light shaper struck a woody to wage £71m ($88.3m) successful currency for the shareholding arsenic a portion of what Fevertree called a “long-term strategical partnership”.

Other notable deals successful January

UK drinks marque Trip secures concern from The Equity Studio

Keystone snaps up Magic Rock and Fourpure

US brew makers Harpoon, FinestKind Brewing to merge

Days aft announcing the acquisition of brew brands Magic Rock and Fourpure, UK concern Keystone Brewing Group made different acquisition, snapping up the North Brewing brand. As we'll see, Keystone made the concern quality pages for little affirmative reasons aboriginal successful the year.

And, successful a forerunner of different improvement deeper into 2025, it emerged Pernod Ricard was weighing up the thought of offloading Champagne marque Mumm.

Across the Atlantic, a large woody successful vigor drinks was announced. Celsius Holdings swooped for Alani Nutrition successful a woody worthy $1.8bn. Alani Nu's merchandise scope includes energy drinks, macromolecule shakes, snacks, and macromolecule powders.

February besides saw...

Pernod Ricard buys remainder of South African gin concern Inverroche

Olipop valued astatine $1.85bn pursuing $50m raise

Among the deals announced successful March, 1 stood out: PepsiCo's woody to bargain US prebiotic soda marque Poppi for $1.95bn.

Poppi, formerly known arsenic Mother Beverage, was acceptable up successful 2015 and, aft receiving backing connected US concern world TV show Shark Tank three years later, relaunched nether its existent marque successful 2020.

Since then, the business, co-founded by Allison Ellsworth and her hubby Stephen, built what has go 1 of the much recognisable names successful the increasing marketplace for ‘better-for-you’ sodas successful the US.  In 2024, the institution generated yearly income of “north of $500m”, a Poppi spokesperson said.