MOTH raises £11M to expand canned cocktails across UK convenience and US
What's the deal? British ready-to-drink brand MOTH has raised £11m in a growth equity round led by Puma Growth PartnersDealroom has a profile for this one. Try Dealroom →. Existing backers BeringeaDealroom has a profile for this one. Try Dealroom →, Guinness VenturesDealroom has a profile for this one. Try Dealroom →, and Rianta CapitalDealroom has a profile for this one. Try Dealroom → joined.
Where it's going: MOTH plans to deepen its UK retail footprint, with a focus on the convenience channel, and to accelerate its US expansion. It already sells through Whole Foods MarketDealroom has a profile for this one. Try Dealroom →, TargetDealroom has a profile for this one. Try Dealroom →, Trader Joe's, and Binny's across California, Florida, and Illinois.
By the numbers: The raise follows turnover of £20.9m, up 67% year on year and 146% over two years — three times the category growth rate. MOTH says it now sells one product every four seconds and ranks as the No.2 RTD brand in UK grocery.
Why now? Canned cocktails account for 27% of the UK's £787m RTD market and grew 64% in the past year. In the US, cocktail RTDs are growing seven times faster than the wider $14.7bn category.
What's the endgame? Founders Sam Hunt and Rob Wallis launched MOTH in February 2021 with a range of 12 premium canned cocktails made with award-winning spirits. The brand is a certified B Corp.
In their words: "This raise is about taking that conviction deeper across the UK and America," said Hunt. Puma's Ben Leslie pointed to "clear evidence of repeat purchase and market share gains."
The signal: Investors are doubling down on a category outgrowing the broader drinks market on both sides of the Atlantic. MOTH's step-up from earlier rounds signals confidence that a UK challenger brand can replicate its grocery momentum in the US.
Read more: Retail Times
Image credit: Stewart
