JPMorgan Bankers Obsess Over Spotting Next Hot Drink While Drinking Water
KEY POINTS
- â˘Ryan Lake, based in Arizona, and Stephen Rooney in New York lead JPMorgan's beverage banking, focusing on mid- and large-cap brands.
- â˘After tariffs slowed deals last year, they expect beverage mergers and acquisitions to rebound strongly by 2026 amid wellness trends.
- â˘They observe Gen Z's shrinking alcohol consumption is tied to financial pressures, advising companies to avoid chasing every fleeting trend.
Ryan Lake, Arizona's beverage whisperer with two decades of drink-detective experience, and New York's Stephen Rooney, Pepsi's financial armorer chasing billion-dollar sales like Alani Nu's $1.8 billion energy drink deal, navigate a labyrinth of tariffs, liquor laws, and broke Gen Z wallets. Their JPMorgan duo pilots a "middle market" mission, hunting insurgent brands from $5 million stashes to skyrocketing hundreds of millions, while cautioning CEOs to avoid flimsily chasing fads like today's protein shake obsession turning tomorrow into a fiber frenzy. Amid housing, fuel, and healthcare bills, they lament Gen Z's likely shrinkage in bar tab generosity despite the wellness boom fueling beverage M&A rebounds in 2026.
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(1 of 3)Two bankers scan bar menus for clues like FBI agents with degrees in kale smoothies, while broke Gen Z stretches rent dollars, leaving alcohol tumbling and fiber drinks stalking the throne.
JPMorgan's beverage bankers treat protein shakes like Wall Street stocksâjust wait until fiber IPOs crash the party.
If Phoenix-based Lake and NYCâs Rooney have taught us anything, itâs that predicting the next hot drink is like guessing which Zoom meeting will end early.
Source: Businessinsider | Published: 3/20/2026 | Author: Alice Tecotzky
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