Prestige Beverage Group Acquires Ready-Made Craft Cocktail Brand Joia Spirit
Two Minnesota drink companies will join forces, as heavy-hitter Prestige Beverage Group has acquired the upstart Joia Spirit. The deal gives Prestige a new, trendy brand of ready-made craft cocktails to boost its portfolio and gives Joia a leg up in expanding nationally.
“Joia is one of the most exciting and innovative new products in the spirits category today,” said Mike Morgan, president of Mendota Heights-based Prestige Beverage Group. “Simply put, Joia brings the innovation and quality of the craft cocktail movement to a more convenient, and easy to drink format.”
The St Louis Park-based beverage line Joia Spirit offers an assortment of fresh and flavorful craft drinks made with premium vodka.
The Prestige acquisition marks the latest step in the evolution of Joia Spirit. Manufactured under Boundary Waters Brands, the Joia brand initially launched simply as sparkling soda with an emphasis on natural, vibrant flavors including from fruits, herbs and spices.
However, as TCB reported in the fall of 2016, Bob Safford, Boundary Waters Brands CEO, noticed at some point that people were using Joia sodas as cocktail mixers. To meet that unexpected customer demand, the company then launched Joia Spirit, a cocktail line of pre-made, canned drinks combining alcohol and Joia’s flavored sparkling sodas.
At the time of the interview, Joia Spirit drinks were sold at about 75 liquor stores and specialty grocers in Minnesota, and at MGM Resorts in Las Vegas, where it was the second-highest selling premixed cocktail drink throughout MGM.
Even then, Safford said they had an eye to the future and a mind to continue growing. The idea behind this partnership is that Prestige will help Joia do just that.
“We are confident that Prestige Beverage Group is the ideal partner to take on the success of Joia Spirit,” said Safford. “With their skill set, focus on retail execution, and resources, they will make Joia Spirit a leader in the craft, ready-to-drink category.”
Joia Spirits will join the more than 50 brands that make up Prestige’s portfolio, including Kinky, Karkov and The Dubliner. Terms of the deal were not disclosed.