SHERBON, Mass. — The Spindrift Beverage Company today announced that venture capital firm Prolog Ventures has led an investment round of over $2 million into Spindrift. The syndicate also included RiverPark Ventures, New Ground Ventures, Warbros Venture Partners and a number of prominent, industry-focused angel investors. Spindrift is the first line of sodas and seltzers made with fresh juice, creating a new segment within the vast carbonated soft drink category. The brand has found a passionate base of both retail and food service customers nationwide, including Whole Foods, Chopt, Boloco, La Boulange, and others, thanks to its focus on pure ingredients and fresh crushed fruit.Said Spindrift founder and CEO, Bill Creelman, “We entered into a long-term strategic relationship with Silverwood Partners to leverage their help in securing a Tier I group of investors that is as excited as we are to accelerate Spindrift’s phenomenal growth. Together, we look forward to continue building the fresh beverage category and inspiring people to live fresh.” Ilya Nykin, Managing Director at Prolog, remarked “we love the innovation that Spindrift has brought to the carbonated beverage space. Bill Creelman has created a unique brand with strong sell through – we look forward to the partnership.”
Michael Burgmaier, Managing Director at Silverwood Partners, added, “When I met Bill last year, I knew that he had created something special. Everyone knows that Spindrift is a great product, but the go-to-market strategy and near- and long-term possibilities for this brand were so compelling that we figured out a way to partner with the company for the long run.”
Spindrift was founded in 2010 by Bill Creelman with the mission of turning whole, fresh ingredients into great tasting soda. Spindrift has doubled each year since inception by focusing on premium food service operators primarily in the Northeast and Northern California.
Silverwood Partners initiated this transaction and acted as the exclusive financial advisor to Spindrift Beverage Company.
About Spindrift Beverage Company
Each batch of Spindrift starts with squeezing fresh fruit then gently adding carbonated water to make a light, slightly pulpy, refreshing beverage. Spindrift is Gluten Free Certified, Non-GMO, and Kosher. Free of artificial sweeteners, juice from concentrates, preservatives and artificial colors, Spindrift® Sodas are available in six flavors: half & half, blackberry, cranberry raspberry, grapefruit, orange mango, and lemonade. Spindrift® Seltzers are available in three flavors: lemon, tangerine, and raspberry lime. Spindrift is available in the refrigerated cold case at cafes, bakeries, and premium sandwich shops, as well as natural food stores and select grocers nationwide such as Sprouts and Whole Foods. For more information click here.
About Silverwood Partners
Silverwood Partners is a specialized investment bank that provides mergers & acquisitions and private placement advisory services to consumer products, media communications technology, and healthcare companies. The firm’s targeted industry focus allows it to bring a depth of knowledge and industry relationships to each client’s unique situation, and Silverwood has a hands-on, consultative approach with a high degree of senior partner involvement.
A principal focus of Silverwood is representing consumer products companies in the healthy living and broader LOHAS segment. The firm’s commitment and expertise in the natural products and healthy living sector has allowed Silverwood to develop strong relationships with institutional investors and strategic buyers active in the industry. For more information click here.
About Prolog Ventures
Prolog provides venture capital to Healthy Living entrepreneurs. We share their passion for well being of individuals, communities, and the environment. We back innovations enhancing the quality of life and offering effective ways to monitor it. Prolog principals are experienced investors and business builders, with a long history of collaboration and a track record at Prolog and several prior VC funds. Collectively, those funds have secured in excess of $500 million in capital commitments and partnered with over 100 companies. For more information click here.