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

By Elaine Watson contact

- 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.”

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