Finland’s Arctic Blue Beverages has signed a letter of intent to form a joint venture with a group of US investors led by former NHL star Teemu Selänne.
The venture is planning to launch Arctic Blue Beverages’ ready-to-drink Arctic Blue Long Drink brand and portfolio in the US, starting with California.
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The agreement will see the venture “jointly owned and governed” by the investor group and Arctic Blue Beverages. The investors will put in between $2-2.5m to support the brand’s entry to market, plus its “initial growth phase”.
The “definitive agreements” governing the venture are expected to be completed by the end of August. The partners anticipate commercial operations will start between the fourth quarter this year and the opening three months of 2026, a statement from Arctic Blue Beverages read.
“This is a significant milestone in our international expansion strategy. Teemu Selänne is not only a legendary athlete but also a highly respected name in lifestyle and business, especially in California. We’re proud to partner with him and his investor group to introduce Arctic Blue Long Drink to the US market,” Arctic Blue Beverages executive chairman Antti Villanen said.
The company launched its Long Drinks line last year in its home market where the group said the range “has demonstrated strong product-market fit and brand traction”.
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By GlobalDataThe Long Drinks range is made using the company’s Arctic Blue gin, and comes in four varieties.
“I have been following Arctic Blue Beverages for some time and truly believe in what the company stands for,” Selänne said. “The Finnish purity shines through in every sip of their Long Drink, which combines authentic taste with a premium design that stands out in the market. I’m excited to bring this unique experience to consumers in the U.S.”
Arctic Blue Beverage’s full portfolio includes the liquorice liqueur Arctic Blue Laku, Arctic Blue gin and Arti Blue Oat, which the group claims is “the world’s first dairy-free gin-based oat liqueur”.
As well as its domestic market, the group sells in markets including Sweden, Japan and Australia.
