Iconic Brands Sees Continued Expansion of Existing Branded Product Lines and Manufacturing Capabilities, and Entrance into Adult Alcohol Pops and Pouch Cocktail Market with Recently Acquired TopPop LLC
Iconic Brands has acquired TopPop, a prominent provider of ready-to-freeze alcoholic ice pops, enhancing its manufacturing capabilities. The deal includes a $3.5 million investment in manufacturing equipment and a new 64,000 sq. ft. facility to boost production. This acquisition allows Iconic to expand its product offerings and tap into the growing ready-to-drink market, which was valued at $714.8 million in 2020, projected to grow at a 12% CAGR through 2028. TopPop's expertise and licensing enhance Iconic's positioning in the alcoholic beverage space.
- Acquisition of TopPop strengthens Iconic's manufacturing and product capabilities.
- Investment of $3.5 million in manufacturing equipment to meet rising demand.
- Expansion into the fast-growing ready-to-freeze market with significant growth potential.
- None.
TopPop to expand by adding a 64,000 sq. ft. facility and ordering
Combined companies form a synergistic entity that looks to boost product offerings and strengthen its foothold in the fast-growing ready-to-freeze (“RTF”) marketplace
AMITYVILLE, NY, Aug. 23, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Iconic Brands, Inc. (OTCQB: ICNB) (“Iconic” or the “Company”), a lifestyle branding company and developer of premium alcoholic beverages, today announced its acquisition of TopPop LLC (“TopPop”), one of the leading premium providers of ready-to-freeze alcohol ice pops.
With the growth in demand for different ways to consume alcohol, and an increasing variety in ways alcoholic beverages are consumed, Iconic Brands is evolving from a lifestyle branding company of alcoholic beverages to a vertically-integrated company capable of servicing existing co-packaging clients, including some of the largest beer, spirits and wine companies in the country. With the acquisition of TopPop, Iconic has expanded its manufacturing facilities, increased its licensing and branding of new products, and acquired a platform for Iconic to release adult alcohol ice pop products for its own brands. The acquisition represents a unique opportunity for new and existing clients.
To view a recent article about the growth of TopPop, please use this link:
“In 2020, I began looking for a possible ice pop project for Iconic, which led me to TopPop. We believed adult ice pops and RTF were going to be a massive category in the future. I met with TopPop’s management and was impressed with TopPop’s business, revenues, and the team, but also immediately recognized the potential synergies of our companies and the value we could provide to each other. We felt that this transaction aligned with our core mission,” said Richard DeCicco, President and Chairman of the Board of Directors of Iconic. “I come from a background of over 40 years in the global liquor industry and it has been a vision of ours to acquire one of the most premium brands in the RTF space. We expect that combining our branding and marketing expertise with an alcohol manufacturing and packing company will be a perfect marriage. We believe we will be able to add value to each other while building Iconic into a major, vertically-integrated company. We also believe that we will be able to realize immediate synergies on the corporate, financial and operational level.
“TopPop currently works with some of the largest alcohol companies in the world, which will position us to capitalize on the opportunities in the alcoholic beverage market in various capacities. Iconic also possesses the full complement of state and federal alcohol beverage licenses to execute the sales end of the business. We believe that together, Iconic and TopPop form a company that will be able to service companies from the idea phase to final product on retail shelves, and can also complete licensing deals. We believe we will have the capability to fulfill large orders from the biggest brands in the world. We look forward to announcing new and exciting opportunities for our own brands and progress in the future.”
Tom Martin, Co-founder and COO of TopPop, stated, “We expect the merger of our companies to be a game-changer as it allows us to combine our unique capabilities. We provide the manufacturing expertise and capabilities while Iconic provides high-level branding and marketing. It truly feels like a symbiotic relationship, and we are eager to blend the companies and provide the best products and services for our clients. We are moving quickly as demand is growing rapidly, and we are expanding to keep up with it.”
TopPop was founded in 2019 and is a premier contract manufacturing and packaging company, specializing in single-use flexible packaging applications in the food, beverage (i.e., single-serve, RTF ice pops) and health categories. TopPop has an existing 30,000 sq. ft. FDA-registered manufacturing facility with SQF food safety certification, Organic Certifications and federal and state licenses to manufacture and package wine, malt and spirits. TopPop also has 30,000 square feet of additional inventory controlled warehouse space. TopPop operates 24/7 to fulfill large purchase orders from some of the biggest brands in the alcohol industry and has recently added another 64,000 sq. ft. manufacturing facility to keep up with growing demand. The new facility is already leased and is being set up for production, which is projected to begin at the end of December 2021. TopPop’s current 30,000 sq. ft. facility contains state-of-the-art high-speed pouch equipment, blending and batching capabilities, semi-automatic pack-out and full product testing capabilities all under one roof. Its team produces first-class products fast, with exceptional efficiency, in a cost-effective manner, providing custom flavor formulations, packaging concepts and sampling. TopPop formulates, blends, fills, packs out and ships its finished product to retail.
TopPop’s projected revenue is expected to increase substantially over 2020 levels and its management sees current and new customer demand for its increased capacity. TopPop has a working agreement with Creative Arts Agency and other entities to sell to major sports and entertainment venues, with the ability to cross-sell products to increase its client base and expand new product development creativity and integration.
RTF adult ice pops are a fast-growing segment in the alcohol beverage industry and have grown in popularity. Many major alcohol beverage companies are in the space. They can be found in supermarkets, large box retailers, convenience stores and at events. According to Grand View Research, the global ready-to-drink cocktails market size was valued at
About TopPop
TopPop, a product development and contract manufacturing company in the U.S., specializes in manufacturing products containing alcohol. TopPop has received federal and state licensing to manufacture malt, spirit and wine-based products in its facility. TopPop’s team of seasoned professionals manufactures its products with the highest quality controls under FDA guidelines, SQF certification and Organic certification. For more information, visit its website at https://toppoppkg.com/.
About Iconic
Iconic is a lifestyle branding company with expertise in developing, from inception to completion, alcoholic beverages for itself and third parties. Iconic markets and places products into national distribution through long-standing industry relationships. Iconic is a leader in “celebrity branding” of beverages, procuring superior and unique products from around the world, and branding its products with internationally recognized celebrities. It currently offers Bellissima Prosecco and Sparkling Wines, by Christie Brinkley, certified Made with Organic Grapes and Vegan as well as a Zero Sugar variety. On the spirits side, it offers BiVi Sicilian Vodka by Chazz Palminteri, which is handcrafted in Sicily.
Please visit the Iconic’s websites and follow us on social media.
Websites: Iconicbrandsusa.com; bivivodka.com; bellissimaprosecco.com
Twitter: @BiviVodka
Instagram: @IconicBrandsUSA; @BellissimaProsecco; @Bivivodka
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance, and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various risks, including those set forth in Iconic’s reports that it files from time to time with the U.S. Securities and Exchange Commission and which you should review, including those statements under “Item 1A – Risk Factors” in Iconic’s Annual Report on Form 10-K.
Contact
ir@iconicbrandsusa.com
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