Los Angeles, CA (October 26, 2010) – Activate™, (http://www.activatedrinks.com) a performance beverage and bottled water company, today announced that it has raised over $6 million in financing and secured equity commitments for an additional $15 million. The financing is being led by Tata Global Beverages Ltd. and joined by a group that includes experienced beverage investor, James Berkeley, numerous key strategic beverage distributors, as well as existing investors including, The Tornante Company and the Eisner family. Activate plans to use the capital to continue promoting and marketing the company’s products, expanding into new geographical markets and building out its staff.
This is a follow-up to the company’s $6 million capital raise in March of 2010, which was led by First Beverage Group, Tornante and other existing investors.
Tata Global Beverages owns some of the most recognized beverage brands in North America, including Tetley Tea and Eight O’Clock Coffee, and was a significant investor in Vitamin Water along with its original promoters before it was divested. Internationally Tata Global Beverages is best known for its Tetley and Tata Tea brands.
Activate, which was founded by Anders Eisner and Burke Eiteljorg, produces an innovative beverage which utilizes the company’s patented cap technology to maximize the freshness of vitamins by keeping them dry until the product is ready to be consumed.
Dan Holland, who was appointed President of Activate in July 2009, has overseen the company as it has grown monthly revenues over 360% and grown retail accounts from approximately 800 to over 6,600. Additionally, he has led the geographical expansion of Activate from being carried by one distributor in one state to now being carried by 28 distributors in 7 states.
“We are thrilled to have found a partner in Tata, a true global powerhouse that has had a significant presence in the North American market for over 60 years,” said Holland. “Activate will not only benefit from the major investment and overall commitment to the company but also from Tata’s deep expertise in the beverage industry and the solid infrastructure they have built along the way.”
Peter Unsworth, Group CEO of Tata Global Beverages said “We have ambitious growth plans and a vision to become the leader in the ‘good for you’ beverage segment. This investment is the latest piece in our strategic journey to reach consumers in different ways and to help deliver sustainable hydration across the world.”
About Tata
Tata companies operate in seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. The total revenue of Tata companies, taken together, was $70.8 billion in 2008-09, with 64.7 per cent of this coming from business outside India, and they employ around 357,000 people worldwide.
Every Tata company or enterprise operates independently. Each of these companies has its own board of directors and shareholders, to whom it is answerable. The Tata name has been respected in India for 140 years for its adherence to strong values and business ethics and Tata companies have always believed in returning wealth to the society they serve. Two-thirds of the equity of Tata Sons, the Tata promoter company, is held by philanthropic trusts, which support a wide range of causes.
About Tata Global Beverages
Tata Global Beverages is a global beverage business and the world’s second largest tea company. The group’s annual turnover is US$1.5bn and it employs around 3,000 people in over 40 countries worldwide. The company focuses on ‘good for you’ beverages and has a stable of innovative regional and global beverage brands, including: Tata Tea, Tetley, Himalayan natural mineral water, Good Earth and Eight O’clock coffee.
About Activate™
In 2007, the founders of The Rising Beverage Company, LLC, doing business as Activate, helped develop a new approach to getting vitamins into drinks. Activate employs a unique and patented design in which vitamins and nutrients are stored as powder in a chamber inside the cap. When the cap is twisted, the chamber opens, allowing the fresh ingredients to drop into the water below. Activate offers a convenient way to get a healthy dose of the nutrients your body needs. For more information, please visit www.activatedrinks.com.
About First Beverage Group
First Beverage Group is a full-service financial services firm dedicated exclusively to the beverage industry. First Beverage focuses on providing growth solutions to leading operators in all segments of the beverage industry through a comprehensive range of products, including private equity; M&A advisory; strategic and operational consulting; and real estate capital through sale-leasebacks and buy/build-to-suit transactions. Headquartered in Los Angeles with offices in Atlanta, St. Louis, Phoenix and Portland, the First Beverage team has over 200 years of experience in the beverage industry. For more information, please visit the company’s website, www.firstbev.com.
About The Tornante Company
Founded in 2005 by Michael Eisner, The Tornante Company is a privately held company that invests in, acquires, and operates companies in media and entertainment. Tornante’s companies include Activate, The Topps Company, Inc., Vuguru, Diversion, and Tornante Animation.
For More Information Contact:
Adam Schiff
DKC
212-981-5216