Alcoholic ‘hard’ kombucha brand, JuneShine, has closed its seed round of financing and announced its acquisition of Ballast Point’s Scripps Ranch facility.
JuneShine, a producer of 6.0% ABV kombucha, will be able to expand its production in and outside of California with the acquisition of the facility. The move reflects the rise of alternative alcohols, products which are being sought after by a health and wellness-focussed consumer market.
Financing from its seed round led to this procurement, and proceeds from investors will go towards product and geographical expansion, the brand said.
Investors in the brand include Nick Heldfond, who was an early investor in KeVita kombucha, and the founders of Thrive Market, an online retailer with a focus on organic foods. Athletes such as Chris and Kimmy Benchetler were also involved in investment.
This range of investors from various backgrounds will give JuneShine input from various targeted sectors.
Co-founder and chief creative officer Forrest Dein said: “We thought of our seed financing as a way not to just raise money from traditional financial platforms, but rather to build a group of experienced professionals that believe in our vision and will join us as partners as we work towards our goal of offering a more sustainable, transparent product at scale.”
© FoodBev Media Ltd 2019
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