![]() ![]() In an industry in which many founders have local ambitions – running craft breweries that sell from their premises, rather than listing with provincial alcohol retailers – Ace’s executive team includes veterans of tech ventures who aspire to build a national champion. Wagman gave last month at a conference hosted by investment bank Stifel Financial. , a publicly traded beer producer that produces Ace products in Western Canada, said in a recent presentation that industrywide “mainstream lager” sales are expected to decline slightly through to 2025, while ready-to-drink sales are expected to grow by 8.5 per cent annually.Īce forecasts revenue will rise 50 per cent next year, to about $70-million, according to a presentation Mr. He said that over the past eight years, there has been a convergence of the beer, ready-to-drink cocktails and cider categories as consumers look for different “refreshment drink” options when they are sitting on a dock or watching a hockey game.īig Rock Brewery Inc. “The insight at Ace Hill was to follow the consumer and move from its base in craft beer into the ready-to-drink sector, where you’re seeing superior growth,” said Iain Chalmers, a professor in Centennial College’s alcohol business management program and former executive at Diageo PLC, one of the world’s largest spirits companies. Wieser said: “The core of everything we do is creating drinks that taste better, and are better for you, than what’s on the market.”ĭeft timing on product launches and what co-founder and chief executive Mike Wagman called an “asset-light” approach to production – the company outsources brewing and bottling its beer and seltzers – have six-year-old Ace poised to become a dominant player in Canada’s fragmented craft brewing and distillery sector. ![]() In an interview at Ace’s Toronto open-concept head office, surrounded by two dozen colleagues who all look like they run marathons, Ms. The pitch starts with health: The new Cottage Springs brew contains one gram of sugar, versus 23 grams in Twisted Tea. Ace is using a well-researched approach – the company has a 74-step process for introducing new products – to win hard-tea drinkers away from its American rival. ![]()
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