With the long-term goal of further U.S. expansion firmly in its sights, the Sterling, Virginia-based cold-pressed juice company, which specializes in the tropical fruits and flavors of founder Luis Solis’s native Dominican Republic, has raised $2 million from a group of investors to build a new production and co-packing facility in the Dominican Republic which is set to go online this fall.
SJF Ventures led the round, while other investors included Interplay Ventures, Third Prime Capital, Dolik Ventures, and Robert Beckler, the former president of packaging at WestRock.
First Beverage CEO Bill Anderson told BevNet that the addition of new capital as well as new team members and investors would allow the firm to provide a broader range of insights from within and outside the beverage industry.
In our conversation, Norton discusses the company’s “inside-out” approach to marketing, how a strong company culture can bring tangible business results, and how a shared sense of responsibility to consumers has strengthened the company’s new relationship with Unilever.
Founded by Todd Berardi in 2005, the acquisition of Hiball -- which markets a line of organic energy, coffee and protein drinks as well as Alta Palla, a line of organic sparkling juices and waters that debuted in 2016 -- marks A-B’s return to the energy drink category after a three year absence.
Plant-based, health startup Revere launched last week with plans of bringing personalization to athletes’ pre- and post-workout mixtures. Now, the direct-to-consumer drink mix company has announced it raised $2 million in a seed round led by Lerer Hippeau Ventures prior to the launch.
PepsiCo announced Thursday the appointment of Ramon Laguarta, CEO of the company’s Europe and sub-Saharan Africa division, as President effective Sept. 1, filling a position that has been vacant for nearly three years.
BevNET Live Summer 2017 got off to a billion-dollar start last month with a presentation from Scott Uzzell, president and general manager of The Coca-Cola Company’s Venturing & Emerging Brands division (VEB).
Bevi raises $16.5M in Series B funding round; NFL wide receiver under house arrest claims kombucha caused him to fail court-ordered breathalyzer tests; Land O'Lakes seeks to restore dairy growth with startup accelerator; Popular Science explores food waste; ACON Investments acquires Borden Dairy
Former REBBL Beverages CFO Jim Arsenault joins Sipp, KonaRed gains a new board member and an executive management shakeup at Long Island Iced Tea.
As part of the round, Bill Moses, co-founder of probiotic beverage brand KeVita, which was acquired by PepsiCo last year, will join Koia’s board of directors.
In a letter sent to employees on Friday and shared with BevNET, Juicero CEO Jeff Dunn explained that the staff reduction, which was mainly sales and marketing employees, would allow the company to shift towards “more focused investment on product development, manufacturing, shipping and improving our sourcing of organic produce.”
Speculation that Amazon’s purchase of Whole Foods might spark legal backlash came to fruition this week as U.S. Representative David Cicilline (D-RI), the top Democrat on the House of Representatives Judiciary Committee’s antitrust panel, called for the subcommittee to hold a hearing on the online retail giant’s latest acquisition.
Earlier this week, BevNET visited New York City to meet with two companies taking inspiration from the craft spirits movement to help elevate non-alcoholic drinking through complex flavors, eye-catching presentation or immersive on-premise experiences.
