Investment will be used to complete a brand refresh, expand production and distribution

Ready-to-drink rum cocktail start-up company, Jamaica Rum Vibes has received backing from multinational drink and brewing company, Anheuser-Busch InBev, which has invested in the company.

Anheuser-Busch InBev, which is better known as AB InBev, has made the investment through its venture capital arm, ZX Ventures. Jamaica Rum, launched in 2019, will use the investment to complete a brand refresh, expand production and distribution, and advance sales and marketing.

The investment in Jamaica Rum Vibes, which manufactures cocktail using a unique blend of over proof white rum from carefully selected distilleries in Jamaica, follows the business completing an accelerator programme at Add Psalt. This accelerator programme focuses on growing black-owned brands in United Kingdom grocery business.

Add Psalt, which is a not-for-profit entity, is co-founded by Lucy Smith and Sam Akinluyi was launched in January 2021 and has run two 15-week programmes so far. It has been reported that ZX Ventures and Add Psalt will each hold a minority stake in the company, with Jamaica Rum Vibes founder, Tamoy Carter retaining a majority holding.

The terms of the deal were undisclosed.

Partnership represents an important milestone

In confirming the investment being made in the company, Carter explained that the partnership with ZX Ventures was “an important milestone” for Jamaica Rum Vibes.

According to him: “I created Jamaica Rum Vibes with a vision to bring people together in one spirit by sharing a taste of the Jamaican culture. I’m looking forward to the continued partnership with ZX Ventures and the Add Psalt accelerator to bring this vision to life.”

The three-strong range of ready-to-drink cocktails produced by the company are made using natural ingredients and a blend of overproof white rum from selected distilleries in Jamaica. Following the brand refresh, the cocktails will be available in retail outlets and online from April.

For his part, Daniel Obaseki, investment partner at ZX Ventures Europe and Africa Beverage Fund, replied: “We are excited about the canned cocktail opportunity in the UK, and are pleased to partner with Tamoy to bring an authentic proposition to the market. A high-quality liquid and a dedicated founder with a Big Dream and the grit to bring it to life are critical elements we look for in potential investments. Jamaica Rum Vibes has shown to have this in abundance.”

Commenting on the investment, Akinluyi said: “We’re pleased to see how far Jamaica Rum Vibes has come. From being one of the first brands involved in our brand accelerator to getting this opportunity to expand, it is a real win for black-owned brands in the UK.”

Jamaica Rum Vibes is all about sharing the taste of the Jamaican culture, a culture not only known for its popular reggae, dancehall and its flavourful jerk cuisine but also the island’s unique taste of rum.

Jamaica’s rich rum history

With its rum manufacturing history dating as far back as 1749, Jamaica not only has one of the finest rums, the island has the most rum bars per square mile than any other country. White rum is a key part of the Jamaican culture; be it a celebration or mourning the loss of a loved one, Jamaicans love their white rum… we can safely say that it is the “vibes” of the island.  

AB InBev, which is based in Leuven, Belgium, has a global functional management office in New York City, and regional headquarters in São Paulo, London, St Louis, Mexico City, Bremen, Johannesburg and others.