Switchel, the apple cider vinegar-based drink pegged as Brooklyn hipsters’ soft drink du jour, is making its way well beyond the borders of the trendy borough, courtesy of CideRoad.
Last week BevNET caught up with CideRoad CEO Kevin Duffy during BevNET Live at the Loews Santa Monica Beach Hotel, where he discussed 2016 expansion plans for the brand.
Launched in 2014, CideRoad got its start in King’s Food Markets in the Tri-state area. At the top of 2015 CideRoad entered Whole Foods’ Mid-Atlantic region and later picked up placement in all 169 Fresh Markets across the U.S. In June, CideRoad signed a distribution agreement with natural foods wholesaler United Natural Foods (UNFI), which facilitated the brand’s entry into more than 50 Fred Meyer grocery stores throughout the western U.S.
Now, CideRoad is rolling out into seven more UNFI warehouses in Moreno, Calif., Rocklin, Calif., Aurora, Colo., Racine, Wisc., Greenwood, Ind., Twin Cities, Wisc. and Lancaster, Texas, in hopes of achieving national distribution with UNFI by “late spring” of 2016, according to Duffy. CideRoad’s also entering four KeHE warehouses in Chino, Calif., Lehigh Valley, Penn., Bloomington, Ind. and St. Augustine, Fla. and has been approved for placement at 224 Sprouts Farmers Markets.
CideRoad has also launched a new funding round with a goal of raising $1.5 million, according to a November filing with the U.S. Securities and Exchange Commision. Duffy said the financing will go toward supporting the distribution initiatives.
“It’s going to require a lot of capital right now, the way we’re rolling out,” Duffy stated. “We’re trying to raise about a million and a half dollars. We’re about a quarter of the way there and we just started.”
Watch our complete interview with Duffy, which was filmed as part of BevNET Live’s Livestream Lounge coverage, in the attached video.