Spindrift made its debut in the sparkling water market in 2010, going head-to-head with the formidable LaCroix. Since then, the competitive landscape has evolved, with numerous brands, including PepsiCo’s Bubly, entering the fray. Coca-Cola also strengthened its position by acquiring the Mexican water brand Topo Chico. Despite this fierce competition, Spindrift has experienced rapid growth due to its low-sugar, low-calorie beverages made with sparkling water and real fruit juice, such as strawberries, peaches, and grapefruit.
Recently, The Wall Street Journal reported that a sale of Spindrift is anticipated to value the company at over $650 million. The publication estimates that Spindrift generates around $25 million in annual earnings before interest, taxes, depreciation, and amortization. The sale, expected to finalize in the first quarter of 2025, signifies a remarkable turnaround for Spindrift. Creelman revealed to Food Dive in 2018 that he initially sold his product from his Toyota Prius while facing significant financial challenges, including a lien on his house and the responsibility of caring for four children. He also faced production hurdles, as Spindrift often clogged manufacturing lines, and retailers frequently rejected him.
“I’m incredibly proud of what we’ve built at Spindrift over the past 15 years,” Creelman stated in a release regarding the sale. “I’m confident that we will continue to achieve great success in expanding the brand and encouraging consumers to opt for beverages that align with the belief that the finest flavors come straight from nature.” As part of this transition, Creelman is passing the reins to Burwick, an industry veteran well-versed in the beverage sector and aware of shifting consumer preferences.
Burwick joins Spindrift after a 35-year career with global consumer brands. He previously served as CEO of Boston Beer, president and CEO of Peet’s Coffee, and held the position of North American president for Weight Watchers, in addition to spending two decades at PepsiCo in various executive roles. “Spindrift’s combination of talented professionals, superior products, and loyal customers has created a fantastic brand with a great future,” Burwick remarked.
In considering health and nutrition, it’s also worth noting that consumers often seek products that support their wellness goals, such as those that address concerns like osteoporosis. This raises the question of which is better for osteoporosis: calcium citrate or carbonate? Understanding the nutritional value of beverages can further enhance consumer choices, especially when it comes to maintaining strong bones.