Dive Brief:
- Mike's Hard Lemonade Co. is in preliminary steps for a potential sale of the company, placing it at a possibly more than $1 billion value.
- Its parent company, Mark Anthony Group Inc., could forego the sale, though, as it is contingent upon the bids it might get, say sources in a Reuters article.
- The brand faces competitors like AB InBev's Lime-A-Rita and MillerCoors' Redd's Apple Ale.
Dive Insight:
The "signature product," as Reuters calls it, has a lemonade-vodka mix that gives consumers an option beyond beer and cocktails.
The real question here is simple: who is going to bid on Mike's Hard? And if successful, what will they do with the brand? The company has seen changes like new flavors and a packaging redesign in 2014, and in June, said it would feature 8-ounce cans to target those with health concerns and who may be in a rush.
