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Licensing Agreements | 12 Months Ended
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Dec. 25, 2021
Licensing agreements [Abstract] |
Licensing Agreements | U. Licensing Agreements Beam Suntory Licensing Agreement On July 14, 2021, the Company signed two agreements with Jim Beam Brands Co. (“Jim Beam”) to develop, market and sell alcohol beverages. These agreements are perpetual, with regular assessments of the partnership performance every 5 years, beginning in Year 5, giving rise to the option to continue agreement terms or terminate the partnership. Under the first of these agreements, the Company is responsible for developing and bringing to market through its distribution network one or more flavored malt beverage products under brand name(s) from the Jim Beam portfolio, beginning with the Sauza brand. Under the second agreement, Jim Beam is responsible for developing and bringing to market through its distribution network one or more full bottled distilled spirits products under brand(s) from the Company’s portfolio, beginning with the Truly brand. The parties expect to begin shipping beverages to customers under these agreements in the first quarter of 2022. Pepsi Licensing Agreement On August 9, 2021, the Company signed an agreement with PepsiCo, Inc. (“Pepsi”) to develop, market and sell alcohol beverages. The term of this agreement is perpetual, with provisions to terminate within the initial 2-years for a limited number of reasons. Under this agreement the Company is responsible for developing, manufacturing, and marketing a flavored malt beverage product under Pepsi’s MTN DEW® brand. As part of the agreement, Pepsi provides certain proprietary ingredients and licenses the Company to use its MTN DEW® and Hard MTN DEW® trademarks in connection with manufacturing, promoting, marketing, and distributing the developed product through the Pepsi distribution network. The Company retains the right to distribute the developed product through its own distribution network for the on-premise channel. The parties began shipping beverages to customers under this agreement in early 2022. Patagonia On December 9, 2021, the Company signed an agreement with Patagonia Provisions, Inc. (“Patagonia”) to develop, market and sell alcohol beverages. The term of this agreement is through December 31, 2024 with options to renew. Under this agreement, the Company is responsible for developing, manufacturing, and marketing a cobranded Dogfish Head and Patagonia beer. The parties expect to begin shipping beverages to customers under this agreement late in the first quarter of 2022.

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