New York-based beverage brand Owen’s Craft Mixers has received $3 million in a Series A funding round as looks to expand its availability.
The investment will help Owen’s allocate more funds and resources to increasing its sales team and boosting marketing efforts to build broader brand awareness.
The round was led by Chicago-based Levy Family Partners, whose managing partner Larry Levy co-founded Levy Restaurants, which is now owned by sports and entertainment venue operator Compass Group.
“Our mutual alignment was a natural fit for Owen’s seeing as we too found initial brand success through bars, restaurants and stadiums,” said Owen’s Craft Mixers president and co-founder, Josh Miller.
“We’re thrilled to have the personal and professional support of Larry Levy as we look toward additional retail channels and growth opportunities among sports, entertainment and catering venues.”
Owen’s mixer flavours include: grapefruit and lime; tonic water and lime; ginger beer and lime; and mint, cucumber and lime.
Levy Family Partners will be joining existing investors behind the Owen’s brand: RJ and Jerrod Melman of Lettuce Entertain You, Sterling Bay, Mandell Ventures, and Clarence Otis Jr., former CEO of Darden.
“We recognised a spirit in Owen’s that resembles our core mission to create unforgettable food and beverage experiences in memorable places,” said Larry Levy of Levy Family Partners. “I love the Owen’s products and think the company will become an important brand.”
Building on its success in bars, restaurants and stadiums, the brand has expanded its retail presence to 5,500 US stores in less than two years.
© FoodBev Media Ltd 2019