First Beverage Group is getting into the CBD business with today’s announcement of its investment in Mad Tasty, a line of infused sparkling waters backed by Interscope Records recording artist Ryan Tedder, lead singer of the group One Republic.
First Beverage Ventures, the private equity arm of First Beverage Group, today announced an investment in mezcal brand Gem&Bolt, marking the first time that the firm has invested in a distilled spirits company.
Organic beverage maker Purity Organic is looking to fill two key positions in its executive ranks following the recent departures of its president, Dave Minnick, and vice president of operations Andrew Guard. Bob Nakasone, a managing director with First Beverage Ventures, a stakeholder in Purity Organic, has taken the reins of the company on an interim basis.
Speaking with BevNET, Juicero CEO Jeff Dunn said the decision was a partly the result of a successful Black Friday/Cyber Monday promotion; upon lowering the price to $399, the company doubled its user base in one day.
Following the departures of Nantucket Nectars co-founder Tom First and former Glaceau executive Jason Camillos last year, the firm’s fund, First Beverage Ventures, has brought on a pair of investment professionals and a seasoned industry operator to manage its investment portfolio.