Canadian holding company Temple Lifestyle Brands has added Rise Kombucha to its expanding functional beverage portfolio.
Launched in 2008, Montreal-based Rise established itself as a category leader in Canada before entering the U.S. in 2018. The brand built its own $10 million production facility in Vermont funded by investment from Lyra Growth Partners, the holding company and investment arm of Charles Chang, the Vancouver-based founder of protein supplement maker Vega.
In 2023, Rise followed many kombucha brewers in launching a prebiotic soda line in 12 ounce cans, called Better Soda.
“This is a heartfelt milestone in Rise’s journey,” said Chang in a statement. “What began in Montreal with a simple idea, to craft a kombucha as bold and authentic as the people who drink it, has grown into something truly meaningful. Temple shares our passion for wellness, sustainability, and community, and is uniquely positioned to unlock the brand’s next phase of growth with the scale, operational strength, and expertise to make it happen. The future is bright, and we can’t wait to watch Rise continue to flourish.”
Under the leadership of co-founders Christopher Magnone, Mark Cigos and Michael Magnone, Temple Lifestyle owns CPG brand Buddha Brands, which produces coconut water and soda under the Thirsty Buddha banner, and plant-based protein bars under Hungry Buddha.
“We are thrilled about this transaction, as we’ve long admired what the team at Rise has built, a beloved brand rooted in quality, community, and wellness,” said Christopher Magnone, Co-Founder and CEO of Temple Lifestyle Brands. “Bringing Rise into our family is more than an acquisition, it’s a powerful step forward in our mission to revolutionize better-for-you beverages. It brings us closer to our north star: 100 million better-for-you beverages consumed annually by 2035. One beverage at a time, we’re inspiring healthier living across Canada.”
Québec-based sustainable investment fund Fondaction is also backing the deal.