Spirits portfolio company Next Century Spirits has acquired XED Beverages, the maker of cocktail-inspired hard seltzer brand Sesh.
Financial terms of the transaction were not disclosed.
Next Century Spirits co-CEO Anthony Moniello described the acquisition of XED as “another positive step in the growth of our portfolio.”
“XED has great momentum and their consumer first mindset fits right into Next Century’s Spirits philosophy,” he added.
XED, founded by Nate Medow and Zeke Bronfam, launched with Sesh hard seltzer in March 2021 in four test markets. Sesh was launched with a “health and wellness” bent, with its 6% ABV offerings featuring zero sugar, 120 calories, 1g of carbs and gluten free. Styles included Moscow Mule, Gin & Tonic, Mojito and Paloma.
The press release announcing XED’s sale referred to the company as “one of the fastest growing brands on the market with best-in-class rate of sales and velocity metrics.” Sesh is now sold in 11 states in retailers such as Kroger, Total Wine, Winn-Dixie and Gopuff.
In addition to Sesh, XED produced Hape Sake Spritz, a sake-based seltzer made with “real tea, real fruit, and real premium Junmai sake.” Hape is sold in California.
Bronfman and Medow in a joint statement said they are “incredibly excited and energized to be partnering with Next Century Spirits and continuing to build towards our vision: creating a dynamic and differentiated portfolio of beverage brands that stand the test of time.”
“We look forward to accelerating the exponential growth of our brands – Sesh and Hape – with the support of NCS’ sales and distribution team and creating new to world brands together to complement NCS’ existing portfolio and meet evolving consumer needs,” they continued.
The XED brands join a Next Century Spirits portfolio that includes several brands with celebrity ties:
- Creek Water Whiskey, a 100-proof whiskey co-founded by rapper/musician Yelawolf;
- Caddy Cocktails, “a golf occasion-based RTD” with golfer Greg Norman;
- Bear Fight, an American Single Malt Whiskey co-founded by Family Guy creator Seth MacFarlane;
- Truthteller 1839 Whiskey, in partnership with Fox Entertainment.