Looks like the new strategy behind FRS has attracted even more cash, demonstrating the faith of investors like Oak Capital’s James Quandt and entrepreneur Tom Lines in the product’s key ingredient, quercetin.
According to an SEC Form D, the company raised nearly $20 million in a round of investment that concluded on July 8. That makes a total of $66 million raised by the company since 2008 over the course of four investment rounds, according to SEC documents.
The company, which uses quercetin to power a number of high-antioxidant supplements under the FRS brand, told BevNET that it was shifting strategies a bit recently. Current CEO Dave Henderson said FRS moving toward a more supplement-based model than its previous iterations, which involved a focus on DSD in mainstream retail channels.