The first half of 2026 kept the beverage alcohol industry’s mergers and acquisitions engine running, with 35 notable transactions across spirits, wine, beer, and the non-alcohol space. Spirits again led the way with 15 deals, followed by beer with 11, wine with 7, and 2 in the growing non-alc category.
While brand-level deals stayed steady, the bigger story in this half of the year was in the distribution tier. Republic National Distributing Company (RNDC), once the industry’s second-largest wine and spirits distributor, continued shedding its national footprint, selling 11 markets to Reyes Beverage Group. This deal represented the largest acquisition in Reyes’ history, with Martignetti Companies taking control over RNDC’s 17 control states. Furthermore, RNDC signed on with Columbia Distributing to hand off Oregon, Washington, and Alaska. The moves followed a string of supplier defections and marked one of the most significant reshufflings of the three-tier system in recent memory.
Consolidation talk also reached the top of the spirits industry, as Brown-Forman and Pernod Ricard briefly explored a “merger of equals” before terminating discussions in April. Sazerac quickly stepped in with a reported $15 billion takeover offer, which Brown-Forman rejected, leaving the Jack Daniel’s maker’s ownership future an open question heading into the back half of the year.
As the industry works through soft demand and margin pressure, deal activity continues to favor RTD expansion, craft consolidation, and portfolio pruning by the major strategics.
Drinks Industry M&A in H1 2026
Spirits Category Deals
- Gallo Bought Four Roses From Kirin for $775 Million
- GHF Acquired Fielden Whisky
- United Beverages Bought Gin-and-Vodka Brand JJ from Halewood
- De Kuyper Sold Mandarine Napoléon Liqueur to Iconic Nectars
- Babco International Bought Tom Savano Cocktails
- Sazerac Acquires Dirty Shirley Ready-To-Drink Cocktail
- Molson Coors Bought Monaco Cocktails Owner in RTD Expansion
- Tennessee Distilling Group Bought Ireland’s Waterford Distillery
- Hood River Distillers Acquired the Crater Lake Spirits Portfolio
- Eagle Park Acquired RTD Brand SoulBoxer Cocktail
- Chilco River Acquired Daru Whiskey
- Mark Anthony Group Acquired Finnish Long Drink
- Sun King Brewing Acquired Hotel Tango Whiskey
- Bacardi Took Full-Ownership of Teeling Whiskey Co
- Edrington Sold Control of Wyoming Whiskey Back to Co-Founder
Wine Category Deals
- Viña Concha y Toro Makes French Debut with Maison Mirabeau Stake Purchase
- Jackson Family Wines Welcomed Big Salt to Its Oregon Family
- Korbel Buys Back Kenwood Vineyards for $4 Million
- Veritas Vineyards & Winery Acquired by Start-Up
- Bronco Wine Co Bought Resurrection Brands
- Canada’s Fairfax Financial Holdings Bought Andrew Peller Wine Group
- Pernod Ricard Offloaded Argentina’s Bodega Etchart to Molinos Río de la Plata
Beer Category Deals
- Jackalope Brewing Company Acquired Black Abbey Brewing Company
- Left Hand Collective Picked Up Bootstrap Brewing
- 2 Towns Ciderhouse Acquired Seattle Cider
- Firestone Walker Bought the U.S. Rights to Trumer Pils
- Tilray Brands Acquired U.S. BrewDog Assets
- Firestone Walker Acquired Stone Brewing From Sapporo
- Global Brands Acquired Skinny Brands
- Damm Acquired Old Speckled Hen
- 21st Amendment Brand Acquired by Evil Genius
- Bale Breaker Bought Cloudburst Brewing
- Tilray Sold Atwater Brewery to Former Owner Mark Rieth
Non-Alcohol Deals
- Constellation Brands Bought Hopwtr, Expanding Its Nonalcoholic Portfolio
- The Wine Group Acquired Phony Negroni