Von Mandl's first major success in the industry was with Mike's Hard Lemonade.

"25% of guys didn't particularly want to drink beer, but couldn't be seen holding anything else in their hand," von Mandl said in a 2006 interview, according to Bloomberg.

Mark Anthony Group calls Mike's, which was launched in Canada in 1996 and the US in 1999, "the world's first spirit cooler," according to Business in Vancouver. The company has since sold $1.6 billion of hard lemonade in the US, Bloomberg reported on November 8.

Mark Anthony Group sold the rights to its ready-to-drink brands in Canada (including Mike's Hard Lemonade) to Labatt Breweries for $350 million, or about $466 million Canadian, in 2015, but retained the rights to sell the beverages in the US market, which as of that time was "five times bigger" than sales in Canada.