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The acquisition marks the first deal since Phil Rosse took over as CEO of Mark Anthony Group in January, becoming the first new leader at the company since its founding more than 50 years ago. At the time of his hire, Rosse was tasked with helping the company reach its goal of doubling its 1% penetration in the global alcohol market by taking its brands into new countries.

“Our focus has always been on building and scaling brands that stand out in their category and resonate with consumers,” Phil Rosse, Mark Anthony Group CEO, said in a statement. “Long Drink has already established strong momentum and a clear point of difference in the RTD space, and we see a meaningful opportunity to build on that success by expanding its reach and bringing it to more consumers.”

The original Long Drink cocktail was commissioned by the Finnish government ahead of the 1952 Summer Olympics in Helsinki. The canned cocktail brand was introduced in the U.S. by a group of Finnish entrepreneurs and American Evan Burns, who currently serves as CEO of The Finnish Long Drink.

“We’ve got an incredible fanbase and team that has propelled The Finnish Long Drink to be one of the breakout RTD brands, but many consumers are still yet to try it,” Evan Burns, co-founder and CEO of the Finnish Long Drink said in a statement. “Joining The Mark Anthony Group of Companies to leverage their track record of scaling iconic RTD brands gives us a huge opportunity to accelerate growth and introduce Long Drink to a much broader audience.”

The ready-to-drink cocktail segment has been a point of growth for the alcohol industry, with several stalwarts broadening their offerings in the category, including Sazerac and Molson Coors. Mark Anthony, who has been an early leader in the segment with a portfolio including Mike’s Hard Lemonade and Cayman Jack Cocktails, has aimed to stand out in the now-crowded segment through innovation.

Most recently, the company launched a dirty soda-inspired line of Mike’s Hard Lemonade in a “decisive shift” for the brand as it looks to attract more Generation Z men.