LQR House Announces Acquisition of 8.58% Stake in DRNK Beverage Corporation, Entering the $902.14 Billion Non-Alcoholic and $2.2 Trillion Ready-to-Drink Beverage Markets [Yahoo! Finance]
LQR House Inc. (LQR)
Company Research
Source: Yahoo! Finance
in the spirits and beverage industry, today announced the acquisition of 1,920,000 shares of DRNK Beverage Corporation at $2.50 USD per share, totaling $4.8 million USD. The proceeds were irrevocably transferred for the sole and exclusive use of the issuer as of June 2024. This investment, which has been held in escrow, will not impact the cash on hand numbers reported in the Company's last filing. LQR House's investment in DRNK marks its strategic entry into both the non-alcoholic (NA) and ready-to-drink (RTD) beverage markets, two rapidly growing sectors within the beverage industry. According to a report by Fact MR, the global revenue value for the non-alcoholic beverage market was estimated at approximately $987.3 billion in 2024 and is expected to reach a size of $1,889.42 billion by the end of 2034, growing at a compound annual growth rate (CAGR) of around 6.7% over the next ten years. The growing demand for health-conscious products, accelerated by the pandemic, has shifted c
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LQR
News
- LQR House Announces Acquisition of 8.58% Stake in DRNK Beverage Corporation, Entering the $902.14 Billion Non-Alcoholic and $2.2 Trillion Ready-to-Drink Beverage MarketsAccesswire
- LQR House Inc. Announces a 434% Year-Over-Year Revenue Growth in May 2024Accesswire
- LQR House Announces Acquisition of 9.9% Common Shares of Cannon Estate Winery in Exchange for 750,000 Shares of LQR House [Yahoo! Finance]Yahoo! Finance
- LQR House Announces Acquisition of 9.9% Common Shares of Cannon Estate Winery in Exchange for 750,000 Shares of LQR House Accesswire
- LQR House Announces the Launch of its RareSips NFT Platform with its First Drop Going Live on May 15, 2024 at 9am ESTAccesswire
LQR
Sec Filings
- 6/13/24 - Form 8-K
- 5/23/24 - Form 8-K
- 5/15/24 - Form 10-Q
- LQR's page on the SEC website