Beer brewery AB InBev has acquired the remaining shares of Babe Wine, a company that sells wine in cans. The beer corporation's innovation branch had already invested in the trendy American wine brand earlier on.
Big on social media
Last year, AB InBev already took a minority interest in Babe Wine through ZX Ventures, an investment fund that targets smaller brands. Hoegaarden and Tripel Karmeliet are some of the labels under the control of ZX Ventures. AB InBev is widening its portfolio as the larger, established brands such as Budweiser are experiencing pressure.
Originally, Babe Wine was named Swish Beverages. It was founded in 2016 by David Oliver Cohen and Josh Ostrovsky. The latter is an important influencer on Instagram. Using the moniker 'The Fat Jewish', Ostrovsky has accumulated over 10 million followers.
The company's mission was to turn wine into a simpler and more accessible product. The canned wine has helped the founders to achieve just that. It became a social media hit and is particularly popular with millennials. Earlier on, the winemaker also made a splash in the United States with a wine called 'White Girl Rosé'.
No financial details of the transaction have been released. The founders and the current management do remain closely involved with Babe Wine.