BOULDER, Colo. (Jan. 18, 2005) – IZZE Beverage Company, the leader in the sparkling juice category, announced today the completion of a $6.35 million equity financing led by Sherbrooke Capital of Newton Lower Falls, Mass. and key participants Tango and Greenmont Capital Partners, both of Boulder, Colo. This latest financing round is expected to accelerate market expansion, extend IZZE’s leadership position within the sparkling juice market, and help IZZE establish a new category of “healthy sodas.”
As part of the transaction, Sherbrooke Capital managing general partner John Giannuzzi, Tango partner Jerome Contro, and S.M. “Hass” Hassan, co-founder of Alfalfa’s Market (now part of Wild Oats Markets, Inc.) and London-based Fresh & Wild (now part of Whole Foods Markets, Inc.) will join IZZE’s Board of Directors.
“We are very excited about our investment in IZZE,” said John Giannuzzi. “IZZE has quickly become the leader in the growing sparkling juice category and has secured an impressive distribution network. Under Todd Woloson’s leadership, we believe the company will continue to grow rapidly, offering a great tasting and healthy beverage to consumers across the country. We welcome the opportunity to work with our fellow investors to help take the company to its next level of success.”
S.M. “Hass” Hassan, who joins the board as an industry expert, also praised IZZE’s success to date. “IZZE has proven its ability to attract both mainstream and natural consumers,” said Hassan. “I believe that IZZE is well positioned for future growth as more people look to add healthier beverages to their diet.”
IZZE co-founder and CEO Todd Woloson is delighted with the investment. “Not only am I pleased to have the capital resources necessary to execute IZZE’s growth plans, but I am absolutely thrilled to have the additional expertise on our board,” said Woloson. “These three professionals bring distinct viewpoints, broad industry contacts and a collective set of experiences that should help us responsibly manage our current growth.”
IZZE Sparkling Juice, an all-natural blend of pure fruit juice and sparkling water, is free of caffeine, artificial ingredients, high-fructose corn syrup and all other refined sugars.
About IZZE Beverage Company:
The IZZE Beverage Company was founded in 2002 by two friends who set out to create a distinctive natural beverage while contributing to a higher purpose. The IZZE Project Reach program supports and creates education-based development for farm workers and their families in the communities where IZZE buys its fruit. IZZE Sparkling Juice is now sold nationally in Starbucks and Target stores, as well as in local Whole Foods Markets, Wild Oats Markets, grocery stores, and casual and fine dining restaurants and delis across the United States, Caribbean and South Pacific. IZZE is available in six flavors: Sparkling Blackberry, Sparkling Blueberry, Sparkling Clementine, Sparkling Grapefruit, Sparkling Lemon and Sparkling Pear, and is sold in 4-packs, single-serve 12-and 16-ounce glass bottles, and 8.4-ounce cans. For more information, visit www.izze.com.
About Sherbrooke Capital:
Sherbrooke Capital (www.sherbrookecapital.com) is a $100 million venture capital fund that provides growth capital to build successful companies in the rapidly growing health and wellness industry. Sherbrooke’s investment focus includes consumer oriented companies in the areas of healthy food and beverages, natural personal care products, and functional ingredients.
Tango is a private investment company that invests in vision-led growth organizations in the retail, life sciences and financial sectors. Tango is built upon a number of long-standing relationships between team members. The core management team has been investing, giving and providing value-added advisory support since 1980.
About Greenmont Capital Partners:
Greenmont Capital Partners (www.greenmontcapital.com) is a private equity firm formed by well known natural and organic food industry leaders in partnership with prominent Colorado-based investors. General Partners in Greenmont include David Link, Barney Feinblum, S. M. “Hass” Hassan, Bryan Meehan, Paul Repetto and Mark Retzloff. Greenmont focuses on emerging companies in the natural and organic food space, and related products industries.