Great to see that DTEA launches RTD teas making its excellent tea blends with the unique innovative flavors accessible to more people. The excerpt:
""Our innovation focus continues in the ready-to-drink market with a trial launch later this month as we look to make tea more accessible to a wide range of consumer tastes. Building on in-store availability of iced tea, hot tea and speciality beverages, we keep developing and testing new ways to make premium tea easy to consume in many formats,” concluded Ms. Segal. According to the studies, over the past few years, the ready-to-drink category has experienced significant growth, and it shows no sign of slowing down.
The ready-to-drink (RTD) beverage market continues to evolve along with consumer preferences for quick and easy solutions that fit into their busy, active lifestyles. People’s preferences, their desire to stay healthy, marketing strategies and cultural influences all contribute to the growth of this market.
In brief, the RTD market — be it alcoholic or non-alcoholic — is booming with both established giants and fresh ready-to-drink brands jumping in that often become takeover targets.
For instance, Simply Good Foods (SMPL) just acquired OWYN for $280 million. OWYN's Revenue are expected to be $120 million in 2024, so SMPL paid about 2.2 times OWYN's Revenue:
https://www.globenewswire.com/news-release/2024/04/29/2871642/0/en/The-Simply-Good-Foods-Company-to-Acquire-Only-What-You-Need-OWYN.html