Global institutional investor Caisse de depot et placement du Quebec (CDPQ) has invested $200 million in the US beverage producer Zevia.
Zevia is headquartered in Los Angeles and produces zero-calorie, naturally sweetened beverages that are distributed in the US and Canada.
The company has a portfolio of sodas, organic teas, mixers, and other drinks, all claiming to use the plant-based sweetener stevia, offering an alternative to sugary and artificially sweetened drinks.
Martin Laguerre, executive vice president and head of private equity and capital solutions at CDPQ said: “Zevia has enjoyed significant and consistent growth in recent years, firmly taking its place as an industry leader in North America. Going forward, Zevia will be able to benefit from CDPQ’s ability to create value with our established network to maintain its impressive momentum”.
Zevia’s CEO, Paddy Spence, commented: “Zevia is focused on making the world a better place through sustainable, affordable products that taste great and feature simple, plant-based ingredients – and we look forward to partnering with CDPQ, an investor which sees environmental, social and governance (ESG) matters as an opportunity to generate sustainable growth that benefits everyone”.
Zevia has a global expansion strategy and plans to use part of the investment on it.
Source: FoodBev Media