Damm UK takes 5% of Dalston's, months after £850k raise
What's the deal? DammDealroom has a profile for this one. Try Dealroom → UK, the British arm of the Spanish brewing group, has invested a six-figure sum for a 5% stake in London-founded soft drinks maker Dalston's Soda Co. The early-stage deal makes Dalston's the first soft drinks partner in Damm UK's new Eagle Brewery Accelerator Programme.
Why now? The investment lands just months after Dalston's raised £850k in equity led by Sorven CapitalDealroom has a profile for this one. Try Dealroom → in January 2026. Founder Duncan O'Brien said the two deals are unconnected, and that Damm bought in at the same share price as other backers.
What's the money for? Damm UK said the investment will support Dalston's across production, distribution, and commercial infrastructure to grow in on-trade and off-trade channels. Production of Dalston's soft drinks will move to Damm UK's Eagle Brewery in Bedford later in 2026.
What's the endgame? The deal advances Damm's ambition to become "a total beverage business" in the UK, according to managing director Luke White. "The UK is our biggest market outside of Spain, so strategically very important," he said, adding that soft drinks is "having one of its most exciting moments" for innovation.
O'Brien framed the partnership as an access to scale. "I don't think we could have found a better partner for Dalston's," he said. He described Damm as "a potentially future acquisition partner," but said the immediate focus is "just to get on with driving growth."
The context: Damm UK acquired the Eagle Brewery from Carlsberg Marston's in 2022 — its first non-Spanish brewing site — and relaunched it in October 2024. It has since invested around £80m in upgrades, including new canning lines and a "beyond-beer" innovation hub. Damm's UK volumes and revenues rose 19% in 2025.
The signal: Damm is assembling a UK drinks portfolio through deals rather than organic growth alone, having also acquired the Old Speckled Hen ale brand from Greene King in 2026. Taking minority stakes in founder-led brands like Dalston's — with Northern Monk already in the accelerator — gives the brewer optionality on future acquisitions while betting on a soft drinks category it sees heating up.
Read more: Europe Says
Image credit: Bernt Rostad
