Steaz sold to 'privately-held strategic buyer' for undisclosed sum

By Elaine Watson

- Last updated on GMT

Steaz showcased its new cactus waters at the Healthy & Natural show in May (ingredients: prickly pear concentrate, cane sugar, lemon juice, natural flavors, green tea, stevia).
Steaz showcased its new cactus waters at the Healthy & Natural show in May (ingredients: prickly pear concentrate, cane sugar, lemon juice, natural flavors, green tea, stevia).

Related tags Venture capital Coffee

Organic ready-to-drink (RTD) tea brand Steaz (The Healthy Beverage Company) has been sold to a “privately-held strategic buyer” for an undisclosed sum in a deal CEO Linda Barron said would further accelerate its growth.

Steaz is “the fastest growing RTD iced tea in the natural and organic category,”​ according to a press release​ issued by venture capital fund Inventages Wealth Management, which took a majority stake in Steaz in 2008.     

According to First Beverage Group​, whose investment banking arm acted as the exclusive financial advisor to Steaz, the brand “will continue to operate independently out if its Doylestown, PA headquarters,”​ while the deal had “provided the former shareholders with liquidity and brought the company a new, value-added strategic partner.”

Co-founder Eric Schnell told FoodNavigator-USA: “I’m very proud that the vision I originally created in 2002 for a triple bottom line, ethically sourced soft drinks brand – one that could show Big Soda a better way – has grown over the years into a leading organic and fair trade beverage brand that now stands at the doorway to take that dream internationally through a strategic acquisition process.

“But as Steaz has been on a strong growth curve recently, I do believe that it’s disappointing timing for many of our early shareholders whom had hoped the company would achieve its next milestone before an outright acquisition.”

Related news

Related products

show more

Driving Growth with Health & Sustainable Labeling

Driving Growth with Health & Sustainable Labeling

Content provided by FoodChain ID | 31-May-2024 | White Paper

Struggling to keep food & beverage labels in line with ever-evolving consumer demands and global regulations? FoodChain ID's new whitepaper outlines...

Replacement Isn't the Future. Variety Is.

Replacement Isn't the Future. Variety Is.

Content provided by ADM | 22-Mar-2024 | White Paper

Successfully navigating the intersection of food and technology can help your business meet evolving consumer demands.

Some home truths about real prebiotic dietary fibre

Some home truths about real prebiotic dietary fibre

Content provided by BENEO | 22-Mar-2024 | Product Brochure

Confused about prebiotics? You’re not the only one! Food developers wanting to work with prebiotic dietary fibre are faced with an abundance of products...

Related suppliers

Follow us

Products

View more

Webinars