Spindrift Is Exploring Strategic Options Including a Sale

Spindrift Beverage Co., which makes sparkling water as well as low-calorie alcoholic lemonade, is exploring strategic options including a sale, according to people with knowledge of the matter.

The Newton, Massachusetts-based company is working with advisers to solicit interest from potential suitors, said the people, who asked not to be identified discussing confidential information. The company posts net sales of more than $300 million a year, one of the people said. Beverage companies — including giants like Pepsico Inc., Keurig Dr Pepper Inc. and Monster Beverage Corp. — are traditionally valued at a multiple of sales.