New Capital from Lead Investors L Catterton and Kin Group to Drive U.S. and International Retail Expansion with New Sales Leader Nathan Schy
LOS ANGELES, Feb. 21, 2023 /PRNewswire/ -- Remedy Drinks, the innovator of shelf-stable, no-sugar, better-for-you beverages announces the closing of a Series B funding round from its existing lead investors L Catterton and Kin Group. The new capital raised will be focused on global retail growth through new distribution and retail takeaway. Remedy Drinks also announces the appointment of a new Chief Customer Officer, Nathan Schy. As the third largest kombucha brand globally and fastest growing in the U.S. market (272% year-over-year via SPINS), Schy will aggressively build on this momentum with existing and new customers.
"This funding round from our partners at L Catterton and Kin Group will allow us to continue to fuel our global retail expansion with Nathan Schy at the helm. We are emerging quickly in the U.S. market and disrupting the Functional Beverage category with our zero sugar and shelf-stable positioning," said Jamie Schwartz, Chief Operating Officer at Remedy Drinks.
Rapid Global Expansion
Remedy Drinks' mission is to make great tasting, shelf-stable kombucha and functional beverages accessible to consumers globally. Remedy Drinks is the #1 market share leader in Australia where the brand was founded in 2012, and since embarking on its global expansion plan has rapidly scaled to become the #1 brand in the U.K., #3 brand in Canada (and fastest growing), and fastest-growing Kombucha brand in the U.S., both at retail and online.
The L Catterton and Kin Group investment further accelerates the company's growth, especially in the U.S. where it is expecting to quickly surpass 10,000 retail doors. The company's distribution footprint is rapidly expanding, driven by existing retail partners Walmart, Costco, Kroger, Target, and Albertsons. The brand is also making significant headway in the Natural and premium grocery spaces, with multiple marquee customers including Wegmans, The Fresh Market, and Fresh Thyme set to launch this year.
Stellar New Leadership
Remedy Drinks is excited to welcome Nathan Schy as Chief Customer Officer. Schy joins with two decades of CPG experience, most recently, at KIND Snacks, where he was Senior Vice President of Sales Strategy and Growth. In this role, Nathan was responsible for developing KIND's go-to-market strategies that helped drive growth across all channels through KIND's acquisition by Mars. Prior to KIND Nathan worked at Hershey, Campbells and Danone. Nathan will lead rapid expansion across all trade channels and oversee the company's demand generation efforts.
"The kombucha and functional beverage category is very exciting right now and Remedy Drinks is delivering on consumer preferences and unmet needs of the category," said Schy. "We have a price accessible portfolio that is disrupting the space. I'm looking forward to driving expansion with our retail partners and consumers in 2023."
To learn more and find Remedy Drinks in a store near you, visit www.remedybrands.com. Interested retailers, visit www.remedybrands.com/contact-us.
About Remedy Drinks:
Remedy Drinks was launched in 2012 by fermentation fanatics Sarah and Emmet Condon in their Melbourne, Australia kitchen. With the vision to make healthy beverages tasty and convenient, and just overall better, Remedy Drinks offers delicious and healthy no sugar, live-cultured drinks, full of organic acids, and antioxidants. No sugar means the company's raw and unpasteurized, strong cultures are able to stay live throughout shelf life, with no risk of fermentation, allowing them to be stable both in or out of the fridge. Sold in over 7,000 retail doors nationwide in the U.S., Remedy Drinks is the delightfully unexpected side of better-for-you beverages, with its refreshing range of gut-friendly offerings, including six fruit-inspired Kombucha flavors, Mixers, Sparkling ACV, and clean energy drinks. For more information on Remedy Drinks, please visit www.remedybrands.com
Photo - https://mma.prnewswire.com/media/2005406/Remedy_Drinks_Image.jpg
View original content:https://www.prnewswire.co.uk/news-releases/remedy-drinks-closes-series-b-funding-round-and-appoints-new-c-suite-sales-leader-to-accelerate-global-growth-301750487.html
