In a move that will give Spindrift a deeper presence l in the New York metro area, the sparkling water company today announced a long-term distribution deal with DSD giant Big Geyser.
This week private equity investment group VMG Partners announced the close of its fourth fund at $550 million, with another $150 million available in a flex-up vehicle. The capital, said VMG Managing Director Wayne Wu, will be invested in emerging, lower middle market companies producing consumable branded goods.
In an interview with BevNET, Spindrift CEO Bill Creelman explained that the company’s rapid growth made securing more working capital a primary objective for this funding round.
In a major step intended to further its commitment toward simple ingredients and transparency, Spindrift has removed all natural flavors and essences from its sparkling waters and will discontinue its soda line. Spindrift founder and CEO Bill Creelman called the moves “belief decisions” that address growing consumer concerns about added flavors and sugar.
Chuck Norris launches a bottled water company, PepsiCo CEO Indra Nooyi talks about protecting the environment while growing a major company, Thrillist looks at sparkling waters to challenge LaCroix, and The New York Times profiles Rohan Oza in the wake of the $1.7 billion Bai sale.
In this edition of the podcast, Burgmaier, who’s worked with several fast-growing and high-profile food and beverage brands, including Essentia, Spindrift and KeVita, discussed the current climate for CPG financing, competition for investment dollars and what he views as the key attributes for successful brands.
As 2016 nears the finish line, it’s time to reflect on some of the biggest beverage stories of the past year. We at BevNET checked the most popular stories on our site and have put together our Top 10 of the most read of the past year.