02/2023100%

Fluère acquired by Lucas Bols Company

NETHERLANDS Food Processing / Beverages / Wines & Spirits EV €0–15M

Context

Lucas Bols completed the acquisition of 100% of Fluère to strategically enter the rapidly growing non-alcoholic spirits market. This "bolt-on" acquisition allows Lucas Bols to capitalize on the "mindful drinking" trend, providing a sophisticated alcohol-free alternative to its global client base of professional bartenders and distributors. The transaction was structured to facilitate a seamless transition and integration, finalized by April 2023. By bringing Fluère into its portfolio, Lucas Bols can leverage its existing global distribution power and century-old expertise in flavor distillation to scale the brand internationally. This deal reflects the broader industry trend of major spirits companies acquiring "No-and-Low" (NoLo) alcohol brands to meet changing social habits and diversify their revenue streams beyond traditional alcoholic categories. The integration allows Fluère to benefit from the institutional marketing resources and market authority of a historic global spirits leader while providing Lucas Bols with a turnkey solution for the alcohol-free cocktail segment.

Fluère, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of [members only].

-> Deep-dive in AgriFood market trends

Target

Fluère is a pioneering Dutch brand in the non-alcoholic spirits sector, founded in 2018 by entrepreneurs Léon Meijers and Alfred Sandee. The brand specializes in high-quality distilled non-alcoholic spirits designed for the "mindful drinking" movement. Its product range includes five distinct variants: Original, Spiced Cane, Raspberry, Smoked Agave, and Bitter. Fluère's liquids are created using a specialized steam distillation process that extracts essential oils from botanicals, providing a complex and subtle taste profile comparable to traditional alcoholic spirits. At the time of acquisition, the brand had established a presence in over 20 countries, including key markets in Europe and the United States. Its business model focuses on versatility, positioning its products as premium mixers for low-alcohol or alcohol-free cocktails in both professional bartending and "at-home" retail segments.

Ent. Value

€0–15M

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2023

2022

Other operations with Lucas Bols Company

Other operations with Lucas Bols Company
Date	Acquirer	Target	Country	Sector
10/2023	NOLET GROUP	LUCAS BOLS COMPANY	NETHERLANDS	Wines & Spirits
12/2021	LUCAS BOLS COMPANY	TEQUILA PARTIDA	UNITED STATES	Wines & Spirits

Similar deals in Food Processing

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02/2023	ROUTIN	CAPPUCCINE	UNITED STATES	Soft Drinks
01/2023	REFRESCO	AVANDIS	NETHERLANDS	Contract Bottling & Packaging
01/2023	BROWN-FORMAN CORPORATION	DIPLOMÁTICO RUM	VENEZUELA	Wines & Spirits
01/2023	NEWPRINCES GROUP	EM FOODS	FRANCE	Food Products
01/2023	IRCA / ADVENT INTERNATIONAL	KERRY SWEET INGREDIENTS	IRELAND	Ingredients
12/2022	ITALIAN WINE BRANDS	BARBANERA VINI	ITALY	Wines & Spirits
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REFERENCES

Valuation range: EV €0–15M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Fluère by Lucas Bols Company are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers Lucas Bols Company’s acquisition of 100% of Fluère, a Dutch company specialised in Beverages, in 2023.

How was the acquisition of Fluère by Lucas Bols Company valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €0–15M band. Detailed valuation data is available to members.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

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