Nordic wine and spirits brand owner Anora Group has invested EUR5m (US$5.1m) in non-alcoholic Danish start-up ISH.
The deal brings Anora’s total share in the company to 26%, making it one of the largest minority stakeholders in the non-alcoholic beverage producer. Following the investment, Arona will distribute ISH’s alcohol-free products in Norway, Sweden, and Finland.
ISH was founded in 2018 and produces a range of non-alcoholic spirits, wines and ready-to-drink beverages including a non-alcoholic gin, non-alcoholic rum and premixed non-alcoholic cocktails such as a Lime Daiquiri and a Mojito.
The Copenhagen-based company ships its portfolio to 15 countries, with a particular focus on Europe and North America.
Commenting on thedeal with Arona, ISH founder Morten Sørensen said: “When I started ISH about 4 years ago as one of the first movers in the NA [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.”
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Arona CEO Pekka Tennilä described ISH as “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 us at Anora,” she said. “Non- and low-alcohol beverages are an important and growing category for us, and we’re very excited to ambitiously continue building the category together.”
Anora Group was formed when Norway’s Arcus company and Finland’s Altia merged in 2020. Earlier this year, the Scandinavian group stuck a deal to purchase Danish wine producer Globus Wine for EUR80m (US$84m).