The fast-growing Suja line of high-pressure processed juices has closed another funding round, landing more than $21 million in new investment, according to an SEC filing.
The round is the third in the past 18 months for the company, taking the total amount invested in the brand to $45 million. Previous rounds have been led by Alliance Consumer Growth fund ($16.5 million) and Boulder Investment Group ($7.5 million).
It is not clear who all of the investors were in the round, however, notes on an SEC Form D — a document that is sometimes filed when private companies sell securities — indicate that the company has brought on two new directors: Julian Steinberg, a principal of ACG (giving that fund two board members) and Rick Hess. The round included both equity and debt, according to the filing.
There isn’t a lot of commentary out there about the investment: Jeff Church, the brand’s CEO, would not comment on the filing; other investors referred all comment to Church.
Suja is the most widely-sold brand currently utilizing HPP technology, which extends the shelf-life of a fresh juice without heat, which can damage nutrient content and flavor. The company has been expanding into conventional retail accounts in recent months, and has also invested in extra manufacturing and sales capacity to match its popularity. The brand has more than doubled in size this year, from $18 million to more than $40 million, and expects to double its points of availability in the next year.