Lucas Bols acquires non-alcoholic spirit brand FLUÈRE

Lucas Bols N.V., a leading global cocktail and spirits player (Lucas Bols), announces the acquisition of 100% of Fluère, a leading non-alcoholic spirit brand, effective 1 January 2023. Fluère's high-quality products are sold in over 20 countries, including many European countries and a limited number of US states. The purchase price consists of a fixed component of approximately one million euros and potential earn-out payments related to ambitious net revenue and EBITDA targets over three years.

Highly regarded brand

Fluère was created in 2018 by two Dutch entrepreneurs, Leon Meijers and Alfred Sendee. The premium products are highly regarded by both industry and consumers, as evidenced by top-notch reviews and the many medals and awards won. The high quality is guaranteed by superior production methods and using the best ingredients, including the finest botanicals. Fluère's range comprises four products: Original, Spiced Cane, Raspberry, and Smoked Agave. The range will be extended with a Bitter, an important addition to complement the flavor palette and expand cocktail possibilities. The Bitter will be launched in February 2023.

Strong growth no-/low-alcohol market

The no-/low-alcohol market is a rapidly growing category. According to IWSR forecasts, the category will record a volume compound annual growth rate (CAGR) of +8% between 2021 and 2025. Health consciousness and mindful drinking continue to be on the rise and social occasions become increasingly diverse, further driving consumer demand for no-/low-alcohol drinks and cocktails. As the market becomes more mature there is room for independent no-/low-alcohol brands offering high-quality products. The acquisition of Fluère allows the Lucas Bols Company to take advantage of this momentum.

Focus on bartenders and on-trade

The acquisition of Fluère is strategically important to the Lucas Bols Company: it offers a great opportunity to broaden the portfolio to leverage these changing consumer trends. The focus will be on raising Fluère's profile among the bartender community and increasing the brand's on-trade presence whilst strengthening its position in retail. The Fluère brand offers important synergies with our cocktail brands, expanding the wide range of cocktail propositions the Lucas Bols Company has to offer.

Fluère benefits from the Lucas Bols Company's strong route-to-market and bartender preference and loyalty. In the US, the brand will be added to the Lucas Bols USA platform, opening an increasing number of states for distribution.

The premium positioning of the Fluère brand translates into gross margins above the Lucas Bols group's average.

The founders have committed to remaining fully involved with the further development of the brand for at least two years.

Huub van Doorne, chief executive officer, Lucas Bols Company, says, "We are delighted to welcome Fluère to our portfolio of brands. At the Lucas Bols Company, we believe in the strong potential of the no-/low-alcohol market. With its outstanding taste and beautiful packaging, the award-winning Fluère brand is in the sweet spot of mindful drinking without having to compromise on a great cocktail experience. We, therefore, believe that Fluère is set to play o leading role in the growth of this exciting market. By leveraging our strong distribution platform and on-trade expertise we can accelerate Fluère's scale-up. We look forward to working with Leon and Alfred to explore all synergies between Fluère and our other cocktail brands. Fluère will truly contribute to our mission; to create great cocktail experiences around the world."

Leon Meijers, chief executive officer and founder, Fluère says, "Creating Fluère has been a fantastic journey, and now we are entering the next exciting phase: scaling up the brand. We are convinced that the Lucas Bols Company will offer the best environment for Fluère to grow and achieve its full potential. We have great respect for their capabilities in brand building and strong route-to-market and are, therefore, thrilled that Fluère will become part of the Lucas Bols Company portfolio. The truly entrepreneurial culture at the Lucas Bols Company fits our values and ways of working. We cannot wait to create a variety of great-taste no-/low- alcohol cocktails and on-trade propositions together by leveraging our collective wealth of flavors and exploring best-in-class mixology skills."