Anora invests €5m in no-ABV producer IshBy Melita Kiely
Nordic spirits group Anora has acquired a minority stake in Danish non-alcoholic company Ish for €5 million (US$5.2m).
Anora now holds a 26% share in the company, however this can be diluted to 20% over the next couple of years.
The investment will help Ish accelerate its international growth. Furthermore, Anora will distribute Ish products in Norway, Sweden and Finland.
Pekka Tennilä, Anora CEO, said: “Ish is a forward-thinking innovator with an impressive track record. It is great to partner with a company that is also driven by such a strong purpose, just like we at Anora.
“No- and low-alcohol beverages is an important and growing category for us, and we’re very excited to ambitiously continue building the category together.”
Ish was founded in 2018 and since then the company has doubled its net sales every year. It currently employs 17 people.
Anora will help Ish expand its sales and marketing drives, and create ‘new, ambitious’ products.
The Ish portfolio includes its non-alcoholic London Botanical Spirit, Caribbean Spiced Spirit, and Mexican Agave Spirit, to name just a few.
Morten Sørensen, founder of Ish, said: “When I started Ish about four years ago, as one of the first movers in the [non-alcoholic] category, it was with the purpose of making it easy to be a mindful drinker.
“By teaming up with Anora, who understands this purpose, we can get our products in the hands of many more consumers and that makes me happy.
“As founder, this is a very proud moment.”
Anora Group was formed in September last year following the merger of Altia and Arcus.
In May this year, the company reported a sales increase for its spirits portfolio during the first quarter of its 2022 fiscal year. However, wine sales declined.