PORTLAND, Ore.--(BUSINESS WIRE)--Eastside Distilling, Inc. (NASDAQ: EAST) today announced the Company’s landmark entry into the fast growing Ready-to-Drink (RTD) market with the introduction of the Portland Mule Ready-to-Drink Cocktail. Portland Mule will come in a 250ml, or 8.4 oz can, designed by the award-winning design team at Sandstrom Partners, and will have a 10.5% alcohol by volume. Eastside will focus initially on distribution in its home state of Oregon, but has aspirations to target national account customers in select regional markets across the U.S.
The Portland Mule is a refreshing elixir made with ingredients from Oregon’s favorite craft proprietors. It is the perfect balance of sweet and spicy Portland Soda with premium four times distilled Portland Potato Vodka, real lime juice (never from concentrate) and a very light touch of natural cane sugar – a little added fizz with zero added fuss. As RTDs have evolved by embracing the craft movement, there is strong demand in the premium space for a high-quality offering like the Portland Mule.
Portland Mule is being produced on Eastside’s own canning line. As the only in-house producer of 250ml slimline cans in Portland, the Company reaps competitive advantages such as reduced cost, superior control over finished product, easier prototyping and faster time to market. Eastside’s recently acquired Craft Canning + Bottling unit now also offers mobile canning services in the 250ml size. Together with Eastside’s lines, these are believed to be the only 250ml lines in the Pacific Northwest.
Eastside has been planning for the launch of its first RTD since installing its own slim line canning line in 2018. Expanding upon the skills of its award-winning master distillers to create the perfect cocktail and producing it 100% in house. Eastside intends to aggressively pursue the growing RTD market in 2019. As an industry category, RTD cocktails have grown rapidly, with growth expected to continue over the coming years. According to Technavio, a research firm, low alcohol RTD drinks are expected to be one of the best performing sectors through 2021, with an expected cumulative annual growth rate (CAGR) of 8.2%. Growth is driven by changing lifestyle and alcohol consumption habits, including the convenience and portability of the cans.
Mel Heim, Master Distiller of Eastside Distilling, commented, “Crafted in collaboration with Portland Syrups, the Portland Mule combines Eastside’s award-winning Portland Potato Vodka, spicy ginger syrup made from whole ingredients, and a squeeze of fresh lime juice. We designed the Portland Mule to have a bold, balanced flavor with a refreshing finish. This Portland original is best enjoyed straight from the can or poured over ice. We hope everyone will enjoy as much as do.”
Grover Wickersham, CEO of Eastside Distilling, added, “We are entering the RTD market with the introduction of Portland Mule, a well thought out product as to ABV and serving size. It also has a very cool packaging design from Sandstrom Partners. With our ten-year history in bringing craft spirits to market, Eastside is ready to capitalize on the growth of the RTD market. Our in-house canning lines lower our cost and shorten our time to market. We will be following this initial ginger Portland Mule soon with some more great creative flavor variations of the Portland Mule cocktail that Mel Heim has developed with our partners at Portland Soda.”
About Eastside Distilling
Eastside Distilling, Inc. (NASDAQ: EAST) has been producing high-quality, award-winning craft spirits in Portland, Oregon since 2008. The company is distinguished by its highly decorated product lineup that includes Burnside Bourbon, West End American Whiskey, Goose Hollow Reserve, Below Deck Rums, Portland Potato Vodka, Hue-Hue Coffee Rum and a distinctive line of fruit infused spirits. Eastside Distilling is majority owner of Big Bottom Distilling (makers of The Ninety One Gin, Navy Strength Gin and Delta Rye whiskey) and the Redneck Riviera Whiskey Co. All Eastside, Big Bottom and Redneck Riviera spirits are crafted from natural ingredients for quality and taste. Eastside’s MotherLode Bottling subsidiary is one of the Northwest’s leading independent spirit bottlers and ready-to-drink canners. For more information visit: www.eastsidedistilling.com or follow the company on Twitter and Facebook.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements, including those related to Eastside becoming a preeminent local provider, the acquisition of CC+B being accretive, and the future benefits of CC+B including the achievement of synergies and providing value to shareholders. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: the ability to integrate the business and achieve synergies; the retention of key personnel; the success in continuing to execute on the Company’s and CC+B’s strategies and business model; changes in economic and market conditions; general competitive factors; and acceptance of and continued demand for the Company's and CC+B’s products (including proposed RTD, CBD, sleeving and wine canning products) and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.