Magic Mind Secures New $12M Investment
Mental performance shot maker Magic Mind secured $12.4 million of a nearly $16 million round as it grows its retail footprint.
Investment
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Featured Investment Content
Daily Briefing (Insiders Only): Big Weed Bets on Bevs
If beverage entrepreneurs somehow thought the THC drink business would be more “chill” than the non-infused side, they might soon learn a hard lesson.
Uncle Arnie’s Raises $7.5M, Targets ‘Category Leadership’ in THC Drinks
Cannabis beverage brand Uncle Arnie’s is planning to nearly double its team from 40 to 75 employees after closing a $7.5 million investment round co-led by Mindset Capital and Delta Emerald Ventures.
Additional Content
Diageo Acquires Cold Brew Coffee Liqueur Brand Mr Black
Global spirits conglomerate Diageo has acquired premium cold brew coffee liqueur brand Mr Black, in which it previously held a minority stake, the company announced today. Terms of the deal were not disclosed.
PATH Closes $30M Series A Round, Projects Up To 300% Retail Expansion
Bottled water brand PATH has raised $30 million in a Series A funding round led by Altos Ventures aimed at expanding its nationwide distribution footprint and supporting a new East Coast manufacturing facility.
Caliwater Raises $2 Million ‘Strategic Round’ to Support National Expansion
Cactus water startup brand Caliwater has raised $2 million in a financing round backed by a slate of professional athletes, actors and musicians. The round, announced today, marks the brand’s second $2 million raise in as many years.
Cann Acquires Sweet Reason, Targeting Mainstream Alcohol Alternative Space
Cannabis beverage producer Cann announced today it has acquired Toronto-based CBD drink maker Sweet Reason, marking the company’s first acquisition as it seeks to build out a platform for alcohol alternatives. Terms of the deal were not disclosed.
Cloud Water Raises $5 Million, Pushes Deeper Into Mainstream Retail
Cloud Water Brands, the New York-based beverage company behind a line of CBD-infused and immunity drinks, has raised $5 million as part of its Series A funding to support nationwide distribution expansion.
Ball Corp. Sells Russian Operations to Arnest Group for $530 Million
Ball Corp., the world’s largest manufacturer of aluminum beverage cans, has sold its business in Russia to the Arnest Group for $530 million. Arnest is “the largest manufacturer of perfume, cosmetic and household products in aerosol packaging in Russia,” and Ball’s aluminum aerosol division has collaborated with Arnest in the past.
Aura Bora Closes Eight-Figure Funding Round, Eyes Conventional Retail Expansion
Botanical-infused sparkling water brand Aura Bora announced today the closing of a series A funding round that brings its total lifetime financing north of $10 million. The raise was led by Siddhi Capital, with additional participation from other firms as well as Waterloo co-founder Clayton Christopher.
Fever-Tree Quietly Acquires Powell & Mahoney Cocktail Mixers
Fever-Tree expands its reach in the U.S. by widening its portfolio of non-carbonated beverages with the acquisition of craft mixer maker Powell and Mahoney.
Solving The Problem Of Investment For Food And Beverage Brands
Ryan Williams, the former VP of Finance and Ops at RISE Brewing Co., has created a tool called the Food and Beverage Investor Database (FABID) which aims to help new entrepreneurs in the food and beverage industry navigate the complicated world of fundraising.
Chobani Pulls IPO Plans
Chobani scuttled its public offering plans on Friday, citing “current market conditions.” The news comes over a year after it filed with the SEC and six months after announcing it would delay its public offering.
![NewAge Declares Bankruptcy, Claiming Almost $150M in Debts [Updated]](https://dg6qn11ynnp6a.cloudfront.net/wp-content/uploads/2022/08/31143438/NewAge-Thumb-150x150.jpg)
NewAge Declares Bankruptcy, Claiming Almost $150M in Debts [Updated]
NewAge, Inc., the Utah-based beverage portfolio company-turned-MLM wellness business, and three of its subsidiaries have filed for Chapter 11 bankruptcy relief in Delaware. The announcement on Tuesday comes nearly three months after NewAge declared in June that it would commence a review of strategic alternatives to maximize shareholder value.
Butterfly Locks In $1 Billion For Food-focused Investments
Private equity firm Butterfly announced today it has closed its sophomore fund, securing commitments from an undisclosed number of institutional investors, family offices, entrepreneurs, and food investors to invest a total of $1 billion in “seed to fork” food-focused entities.
Profile: Beverage Investor Cælum Capital Limited Seeks Founders Ready to Scale-Up
After over two decades, CompassBox has earned a name for itself through frequent releases of blended malts and a campaign aimed at encouraging transparency in whisky spirits. That’s the exact kind of innovation and passion Manesh Rungta, the founder and managing partner of Cælum Capital Limited, is looking for.
Canopy Cuts Costs, Jobs; CEO: “Challenging But Necessary Changes”
Facing consistent challenges on the path to profitability, cannabis corporation Canopy has announced a host of cost reduction measures on Tuesday — including slashing around 250 jobs — as it targets hundreds of millions in savings by the end of the fiscal year 2022.