White Claw's parent company is reportedly investing $250 million to ramp up production of the 'iconic brand' amid national shortage
- Mark Anthony Brands, parent company of White Claw, pledged $250 million this week to ramp up production of the popular hard seltzer in order to meet overwhelming demand that has led to nationwide shortages.
- Speaking at the National Beer Wholesalers Association's Annual Convention, Mark Anthony Brands founder Anthony von Mandl called White Claw an "iconic global brand," comparing it to legacy companies like Starbucks, Brewbound reported.
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American bros struggling to get their hands on a case of White Claw amid the ongoing national shortage of the hard seltzer may soon have their thirst quenched.
Anthony von Mandl — founder of Mark Anthony Brands, the parent company of White Claw — said the company is investing $250 million in both new and existing production facilities in order to meet explosive demand for the hard seltzer. Speaking at the National Beer Wholesalers Association's Annual Convention on Tuesday, he called the beverage an "enduring brand" with "the potential to deliver billions of dollars of profit," Brewbound reported.
"We are building an iconic global brand just as Starbucks did," he reportedly said at the event.
Mark Anthony Brands did not immediately return Business Insider's request for comment.
The funding will help alleviate nationwide White Claw outages, which the company has been "working around the clock" to fix, Sanjiv Gajiwala, senior vice president of marketing at White Claw, told Business Insider earlier this month. Several beer and liquor stores, as well as customers, confirmed a scarcity of the beverage as cases continue to fly off shelves faster than Mark Anthony Brands can replace them.
At the meeting, von Mandl reportedly urged wholesalers in attendance to continue to give White Claw ample shelf space and emphasized the brand's dominance in a market that is growing increasingly saturated. Specifically, he called out brewers like Anheuser Busch-In Bev for attempts at taking products and "slapping seltzer on them," according to Brewbound.
"The consumers flocking to White Claw today are not going to magically return to the mega beer brands of yesterday, despite whatever last gasps, line extensions or nostalgic marketing they launch," he said. "With White Claw and our entire brand portfolio, it's not just about volume, but about profit."
Mandl's comments come after Guggenheim analysts predicted that sales of Truly are expected to grow threefold in the next two years, posing a threat to White Claw's leading market share. The Boston Beer Company, which owns Truly, also announced this week that it entered an agreement with the National Hockey League to make Truly the official hard seltzer of the league — the company's first national sports league partnership.
"As a category leader, we're seeing record demand for Truly year-round, not just during the summer months, Boston Beer Company CEO Dave Burwick said in a press statement. "Many NHL fans are already Truly drinkers and that's why this partnership is a natural fit heading into fall."
SEE ALSO: 'Claw is the law': Why American 'bros' suddenly can't get enough of White Claw hard seltzer
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