US beverage brand Owen’s Craft Mixers has closed a $7.5 million funding round led by a series of notable investors including country music singer Lee Brice and ice hockey player Mario Lemieux.
Other investors included singer and songwriters Darius Rucker and Ryan Hurd, Levy Family Partners – which led the brand’s Series A funding round in 2019 – and Maas family Office, the owners and creators of RumChata.
Founded in 2016, Owen’s Craft Mixers offers a range of mixers made from real juice and pure cane sugar including Ginger Beer and Lime, Cucumber and Lime, Tonic Water and Lime, and Margarita Mix.
According to Owen’s Craft Mixers, it is the fastest-growing premium mixer brand in the US, reporting a 378% increase in sales year to date. The drinks are sold in over 14,000 retail stores, as well as on premise businesses such as bars and restaurants, professional sports venues and over 750 gold courses nationwide.
The capital will be used to grow the employee team, ramp up sales and marketing efforts and to manufacture additional product inventory.
“We are thrilled to be announcing our most recent round of funding which will propel Owen’s Craft Mixers to become the leading, go-to, premium mixer brand,” said Josh Miller, Owen’s co-founder and president.
“The funding, paired with our diverse distribution, ranging from PGA Golf Courses to Amazon and national chain stores, such as CVS and Publix, is allowing the brand to meet consumers wherever they are. As a result of this multi-channel strategy, Owen’s is poised to triple its business year over year, growing its retail footprint by 10,000 stores.”
NHL player and investor in the round, Mario Lemieux, added: “The trend of consumers migrating toward premium spirits is only becoming stronger, and their preference for higher quality mixers to combine with those spirits has followed suit.
“Owen’s was among the first to recognise this trend and has combined a high-quality, all-natural, great-tasting product with the convenience of making a “one-pour” cocktail. That combination has proven to be a winning formula for the company. I believe Owen’s is poised and positioned for tremendous success moving forward, and I am beyond excited to be involved as a partner.”
© FoodBev Media Ltd 2020
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