LUCKY Saint, the alcohol-free beer, has raised £10 million from investors to power the brand’s global growth ambitions.
The funding round, hailed as the largest-ever by an alcohol-free beer brand in Europe, has been led by Beringea, the consumer and technology growth investors, and JamJar Investments, the fund of Innocent smoothies’ founders. And it includes backing from other new and existing investors, including Jonathan Warburton, chairman of Warburtons the bakery brand, and Will Greenwood, the England rugby World Cup winner.
Luke Boase, founder and chief executive of Lucky Saint, said: “This is a big moment for Lucky Saint. This latest investment will ensure further success for the company in the UK and help us build a globally recognised alcohol-free brand. We all know JamJar's track record in supporting and driving great consumer brands, and with Innocent as their story, we know we've got an exceptional team behind us.
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“Over half of the UK want to moderate their alcohol consumption. More people than ever before are looking for a great-tasting alcohol-free beer. We've become the category leader, and the UK largest independent alcohol-free brand, because we've been totally focused on quality. It will remain at the heart of everything we do as we continue our very ambitious growth plans.
“We feel we've just scratched the surface of this opportunity. This investment will kickstart our launch into European markets and put more Lucky Saint in pubs up and down the UK. And with one in three pub visits now alcohol-free, we are unbelievably excited that our own pub and brand HQ is launching in central London where it all began four years ago. It'll be a chance to showcase the Great British pub and our amazing industry.”
Lucky Saint has grown rapidly since it was established in 2018 and now available in 5,000 pubs, bars, and restaurants - including more than 60 Michelin-starred venues - as well as major retailers such as Waitrose, Sainsbury's, Tesco, Ocado, Marks & Spencer and Majestic.
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The Series A funding was announced as Lucky Saint forecasts the biggest dry January to date. It is predicting that sales will rise by more than 100 per cent amid a 25% increase in the number of people taking part in dry January to over 10 million.
JamJar's Adam Balon said: “We have loved being part of Lucky Saint’s growth story since working with them in 2021. Their journey is part of a massive cultural shift with consumers as our relationship with alcohol is undergoing big and irreversible change. Lucky Saint has responded to this moment with the best product and strongest brand in the category, and we are delighted to back them again.
"There is big momentum behind this whole movement, as alcohol-free options increasingly become the first choice in pubs and hospitality. We are so excited for Luke, Emma and their team - we're confident they will deliver on their ambition to be a defining brand that led the charge to a healthier, better way to drink and have fun.”
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