The move, according to the founders, will allow Skinny Brands to grow.
In May 2019, Private Equity Investor Mosaic took a 37.5% stake for an undisclosed fee. As a result of the new structure, the company expanded and appointed chief commercial officer Adrian Hirst and chief executive officer Mihai Albu.
Exciting journey
Founder Tom Bell said: “From such humble beginnings, we have had an incredible few years and an exciting journey developing and bringing to market such a successful brand.
“I am immensely proud to see the business evolving into the next phase of growth and with such a bright future.”
The founders will continue to support the company and remain shareholders but will work on other projects.
Hirst said: “Thanks to Tom and Gary, Skinny Brands is a fantastic company in an emerging category that will continue to add value to the beer market.
“We are all very excited about the next chapter in the evolution of Skinny Brands.”
Founders’ vision
It was the founders’ vision to create a variety of ‘better-for-you’ alcohol alternatives without compromise and, ultimately, lead to a ‘lifestyle’ category within the industry.
Such products included a 4% ABV 89-calorie lager and 5% ABV 159-calorie cider – both low-carb, gluten-free, and vegan and kosher-certified.
The brand also offers 5% ABV spirit-based drinks consisting of Cosmo, Margarita and Mojito cocktails, all made with natural ingredients and contain only 90 calories with 0.4% sugar and 1.32% carb.
The company is certain the reformation will encourage the long-term success and longevity of all Skinny Brands’ products.
Bell said the decision will allow the company to move forward, potentially leading it to a brighter future.
