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Next Century Spirits takes stake in Vide RTD
Third-party producer Next Century Spirits has acquired a minority stake in ready-to-drink (RTD) brand Vide, which is backed by model and actor Olivia Culpo.
Based in North Carolina, US, Next Century Spirits creates spirits for private labels and bulk production, as well as its own brands.
Next Century Spirits said the deal, terms of which were undisclosed, shows its commitment to the RTD category and positions it as a leader in the category, particularly the Tequila-based RTD segment.
The partnership will see Vide leverage Next Century’s commercial marketing efforts and the company’s route-to-market sales plan.
Through the deal, Vide will aim to secure new accounts and expand its distribution.
Anthony Moniello, co-CEO at Next Century Spirits, said: “I’ve been so impressed with Vide’s growth thus far and I love how the portfolio uses real vodka and Tequila within its products. Broadly speaking, the RTD category is hyper competitive, but we see the Tequila RTD space as an underdeveloped category where we have an opportunity to scale growth.”
Vide was founded in Long Island in 2018 by Sal Campisi and Ryan Laverty.
The 5% ABV canned range, which combines blanco Tequila and American vodka with soda water, contains 99 calories and no sugar.
Campisi said the investment from Next Century will enable the brand to “scale nationally to be the top alcoholic ready-to-drink beverage brand in the country that is committed to consumer transparency”.
Culpo, an American beauty pageant contestant and ‘influencer’ with more than five million Instagram followers, joined Vide as an investor in 2021.
“I met Sal and Ryan a few years ago and respected their vision for the brand and their tenacity,” said Culpo, who has had minor roles in American comedies I Feel Pretty and The Other Woman. “This strategic partnership with Next Century Spirits will help unlock new growth opportunities in the category.”
The deal with Vide will enable Next Century to diversify its portfolio to meet the demands of Gen Z and Millennials.
The company’s portfolio of own-label brands includes American single malt Bear Fight (backed by Family Guy creator Seth McFarlane), Creek Water Whiskey, Caddy Clubhouse Cocktails RTDs and Truthteller 1839 Bourbon.
Last year, Bear Fight secured US$1.9m in funding.