CDPQ invests $200m in stevia beverage maker Zevia

US beverage producer Zevia has secured a $200 million minority investment from global institutional investor, Caisse de dépôt et placement du Québec (CDPQ).

Headquartered in Los Angeles, Zevia offers a portfolio of zero-calorie, naturally sweetened beverages, with distribution across the US and Canada.

The company aims to provide an alternative to sugary and artificially sweetened beverages with its range of sodas, mixers and other drinks, made with the plant-based sweetener stevia.

According to CDPQ, Zevia will use a portion of the new funds to pursue its global expansion strategy.

“Zevia has enjoyed significant and consistent growth in recent years, firmly taking its place as an industry leader in North America,” said Martin Laguerre, executive vice president and head of private equity and capital solutions at CDPQ.

“Going forward, Zevia will be able to benefit from CDPQ’s ability to create value with our established network to maintain its impressive momentum.”

Paddy Spence, CEO of Zevia, added: “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.”