US drinks business First Bev has announced it has acquired a controlling stake in the California-based kombucha firm Health-Ade.
Founded in 2012, Health-Ade markets itself as a producer of “feel-good, bubbly beverages” with gut-health benefits, such as kombucha, prebiotic sodas and cocktail mixers, and has annual retail sales of over $200 million.
“I couldn’t be more excited for Health-Ade to have someone with Jack’s experience and credentials step into the CEO role and to be able to continue to focus my passion and energy in a new way on the opportunities that lie ahead for Health-Ade,” said Daina Trout, co-founder of Health-Ade.
“First Bev has been an amazing partner since the beginning, providing not just capital, but expertise and resources through every crucial growth phase of the company”, Ms Trout added. “We have the highest of expectations for what we can accomplish together as we enter into this transformative phase of growth for Health-Ade”.
Jack Belsito, managing partner of First Bev, commented: “Our vision is for Health-Ade to become the global leader in kombucha and digestive health beverages, one gut at a time”.
Financial terms were not disclosed.
Source: First Bev (via PR Newswire)