The line of credit is from the Naturally Gerber Finance division (established in 2020), which focuses on CPG brands in the natural, organic, and wellness space including past investments in Stasher, Coola, and Om Mushroom Superfood.
"Gerber Finance’s genuine desire to be long-term and collaborative partner stuck out to us and made a lasting impression, The team took the time to understand our business, our company, and our mission,” said Aaron Kitchell, VP of finance at Humm Kombucha.
As consumers continue to seek out products with gut health and immune boosting benefits, kombucha has become a popular beverage for many consumers. As a result, the kombucha market has grown 52% between 2016 and 2020, according to Innova Market Insights, and is expected to increase 23% to reach $10.45bn by 2027, Fortune Business Insights estimated.
Founded in 2009, Humm Kombucha portfolio includes 'probiotic kombucha' in traditional glass bottles as well as a zero-sugar canned product, available in all 50 states as well as Guam and Sweden with further distribution expansion ahead, said the company.
The financing will be used to fuel the brand’s rapid growth and as working capital to hire staff, buy machinery, and fund large-scale retail programs and marketing initiatives, according to Humm.
“With our similar values and commitment to lasting partnerships, it made natural sense to work with Humm Kombucha. We look forward to our flexible financing and expertise in the space helping to move Humm Kombucha forward in their success," commented Jennifer Palmer, CEO of Gerber Finance.