on LQR House Inc. (NASDAQ:LQR)
LQR House Acquires 8.58% Stake in DRNK Beverage Corporation
MIAMI BEACH, FL / ACCESSWIRE / June 10, 2024 / LQR House Inc. (NASDAQ:LQR), a niche ecommerce platform in the spirits and beverage industry, announced its acquisition of 1,920,000 shares of DRNK Beverage Corporation at $2.50 USD per share, amounting to $4.8 million USD. This investment marks LQR's strategic entry into the non-alcoholic (NA) and ready-to-drink (RTD) beverage markets.
The non-alcoholic beverage market was valued at approximately $987.3 billion in 2024, projected to reach $1,889.42 billion by 2034 with a CAGR of 6.7%, driven by increased health-conscious consumer preferences.
DRNK offers ready-to-drink beverages with nutritional benefits, aligning with current trends for functional drinks. Commenting on the acquisition, LQR CEO Sean Dollinger highlighted the strategic move to enhance LQR's market presence and address consumer demand.
This acquisition allows LQR to expand its portfolio, in line with its mission to innovate and adapt to market trends while maintaining financial integrity.
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