Auction Sale
Key Challenge
DrinkWorks – Two Auction Event: ONYX, with strategic JV partners, was named the exclusive sales agent to conduct two global online auctions of the DrinkWorks facilities. DrinkWorks, a joint venture between Keurig, Dr Pepper and Anheuser-Busch InBev, provided home bar systems designed to prepare a variety of cocktails using proprietary Pods. The first auction featured roughly 500 lots of late model (2017-2020) equipment at the company’s Bedford, MA Alcoholic Beverage Testing Laboratory. The second auction focused on the company’s entire Williston, VT Beverage Production and Pod Filling Plant (over $50,000,000 in acquisition cost). ONYX provided DrinkWorks with a financial minimum guaranteed recovery. The auctions were conducted in March 2022.
Key Takeaway
ONYX, with strategic JV partners, was able to provide DrinkWorks with a financial guarantee while preparing and executing two separate Global Online Auctions of the compnay’s Bedford, MA testing laboratory and beverage production and pod filling plant in Williston, VT. The first auction featured roughly 500 lots of late model (2017-2020) equipment at the company’s Bedford, MA Alcoholic Beverage Testing Laboratory. The second auction focused on the company’s entire Williston, VT Beverage Production and Pod Filling Plant (over $50,000,000 in acquisition cost). The auctions were conducted on March 9 & 29, 2022.