Spindrift Beverage Co., which makes sparkling water as well as low-calorie alcoholic lemonade, is exploring strategic options including a sale, according to Bloomberg News.
Spindrift, with VMG Partners, KarpReilly and Prolog Ventures among its investors, was founded by the company’s CEO, Bill Creelman. The company posts net sales of more than $300 million a year, Bloomberg reported. Beverage companies — including giants like Pepsico Inc. (Nasdaq: PEP), Keurig Dr Pepper Inc. (Nasdaq: KDP) and Monster Beverage Corp. (Nasdaq: MNST) — are traditionally valued at a multiple of sales.