*This article was originally released in July 2024 and updated with additional material in January 2025.
According to Park Street University’s annual analysis, the beverage alcohol industry saw 55 acquisitions in 2024 despite economic challenges. Spirits led with 30 deals, while beer and wine had 13 and 12 deals, respectively. Major players like Diageo, Coors, and Gallo divested non-core assets, creating opportunities for smaller companies and outside entrepreneurs. The year’s mergers & acquisitions activity reflected an industry in transition, with major companies focusing on core brands, growing interest in premium and wellness segments, and new market entrants finding opportunities.
Here are some key highlights from the report:
- This year, the spirits segment was notably led by RTDs, with seven deals. This segment was followed by vodka, gin, and agave, which each accounted for four new deals.
- Once again, smaller individual investors played a larger role, with founders like James Hall acquiring their original brands back from large players like Ste. Michelle, while individuals from outside the beverage industry like John Paul DeJoria also joined in on the action with his purchase of Waterloo Gin.
- Major acquisitions, including Diageo’s purchase of leading non-alc brand Ritual Zero Proof, marked a shift in strategy towards niche categories focused on health and wellness trends.
Free Download: 2024 Alcohol Industry M&A Overview
Notable Beverage Alcohol Deals in 2024
Spirits Category Deals
- Diageo Became the Sole Owner of DeLeón Tequila
- Illva Saronno Completed Full Acquisition of Engine Gin
- MG Destilerías Bought Coppa Cocktails
- BuzzBallz Acquired by Sazerac
- FX Matt Acquired ‘Merican Mule Canned Cocktails
- Uncle Nearest Made Vodka Debut with Square One Organic Spirits Buy
- Newport Craft Distilling Acquired KEEL Vodka
- William Grant Acquiresd Famous Grouse from Edrington
- Sazerac Purchased Svedak Vodka from Constellation Brands
Wine Category Deals
- Patz & Hall Co-Founder James Hall Bought Winery Back From Ste. Michelle
- Ste. Michelle Sold Conn Creek Wine Brand to Third Leaf Wines
- Ackley Brands Acquired Columbia Winery and Hogue Cellars from E&J Gallo
- Constellation Brands Acquired Renowned California Winery Sea Smoke
- O’Neill Vintners & Distillers Acquired Ram’s Gate and Formed a Luxury Division
- Marchesi Antinori Acquired Ste. Michelle Wine Estates’ Col Solare Stake
- Burgundy’s Domaine Faiveley Bought Sonoma’s Williams Selyem
Beer Category Deals
- Asahi Acquired Octopi Brewing
- Paskenta Band of Nomlaki Indians Acquired Mad River Brewery
- Owners of Jack’s Abby Purchased Wormtown Brewery
- Gallo Made Strategic Investment in Montucky Cold Snacks
- Chobani Yogurt Founder Bought Anchor Brewing Company
- Tilray Brands Bought Four Craft Breweries From Molson Coors