Investment Marks Pronghorn's entry into the rapidly expanding non-alcoholic sector.
NEW YORK, June 10, 2024 /PRNewswire-PRWeb/ -- Pronghorn, a standalone company on a mission to cultivate the next generation of Black entrepreneurs and executives in the spirits industry, makes a first-time non-alcoholic industry investment with Black Women-owned brand, Mocktail Club.
Inspired by global travel, Mocktail Club offers premium non-alcoholic cocktails that are crafted to provide unique and exciting flavors with quality organic and natural ingredients. Flavors include sophisticated Manhattan Berry, refreshing Havana Twist, bittersweet Capri Spritz and smokey Bombay Fire.
Pronghorn is dedicated to expanding diversity within the spirits industry by cultivating and investing in the next generation of Black founders, executives, and entrepreneurs. Pronghorn's capital investment in Mocktail Club is designed to accelerate the brand's growth within the non-alcoholic beverage market, which globally, is valued at approximately USD 902.14 billion in 2023 and is expected to generate revenue of around USD 1751.47 billion by the end of 2032. *
"Pronghorn's mission is simple – to create a template to diversify any industry," said Dia Simms, Co-Founder of Pronghorn. "We recognize that the non-alcoholic sector is growing at an incredibly fast pace, which is why we are thrilled to support a Black Woman-owned brand like Mocktail Club that is set to disrupt the non-alcoholic sector through its distinct flavors."
Mocktail Club is a pioneer in the industry under its Founder Pauline Idogho's leadership. As a Black entrepreneur and immigrant, Idogho was inspired to create Mocktail Club by discovering rich and sophisticated flavors on her international travels. Idogho wanted to make these flavors accessible in every sip. Idogho is also a Founding Member and Head of the Finance Committee for the Adult Non-Alcoholic Beverage Association, which is which is a global trade association accelerating the growth of the adult non-alcoholic drinks industry by providing its members with the insights, connections, and resources needed to scale their businesses and impact.
"With this investment from Pronghorn, Mocktail Club can continue to scale up and become more accessible across the nation," said Pauline Idogho, Founder of Mocktail Club. "When I launched this non-alcoholic, better-for-you company, my purpose was to ensure no one felt left out of the party and people had the option to moderate and enjoy the same rituals with sophisticated non-alcoholic cocktails."
Mocktail Club can be found in retailers including Whole Foods, Giant, Safeway, Target and Erewhon.
About Mocktail Club:
Mocktail Club is a line of premium crafted ready-to-drink non-alcoholic cocktails. Mocktail Club recreates the complexity of a great cocktail without the alcohol using bold and unique flavors, inspired by travel. The brand uses better-for-you ingredients, such as superfruits and prebiotics, so your drink works for you. Their mission is to redefine the social drinking experience so that everyone can celebrate together. Follow them on Instagram @mocktailclub.
About Pronghorn:
Pronghorn is focused on cultivating the next generation of Black entrepreneurs, executive leaders, and founders within the spirits industry. Through sustainable capital investments, incubation, and recruitment programs, Pronghorn removes barriers and grants access to critical resources that empowers untapped talent and emerging Black businesses to reach their full potential. The company was co-founded by spirits industry veterans Dia Simms, Erin Harris, and Dan Sanborn. Global beverage alcohol leader, Diageo announced its partnership backing Pronghorn in 2021. $200M is being committed based on achievement of key milestones within the ten-year plan. The pronghorn is the fastest North American land mammal and can endure speeds for miles. Inspired by our namesake, Pronghorn believes creating real change is a marathon, not a sprint. For more information visit: http://www.pronghorn.co.
*Source: Non-Alcoholic Beverage Market Size, Share & Growth Report 2032 by Zion Market Research
Media Contact
Alex Ota, ChicExecs Brand Strategy, 9492920186, [email protected], https://www.chicexecs.com/
SOURCE Pronghorn
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