Brooklyn-based beverage brand Q Mixers has secured $40 million in funding from investment firm Eurazeo.
Proceeds will be used to accelerate Q’s marketing activities, including the development of a consumer and influencer community, and to support its expansion within both the grocery and on-premise channels.
Eurazeo Brands, joining existing investors including First Beverage Ventures, said it will provide the company with “proven brand-building, operating, and category expertise”.
Founded in 2007, Q Mixers makes beverages such as ginger beer, tonic water, and ginger ale.
Jordan Silbert, CEO and founder of Q Mixers, said: “Over the past 12 years, we have built an incredible community that shares a fundamental vision: your mixer should be as great as your spirit. Together with Eurazeo Brands, we will build this company into the mixer brand of choice.”
Ben Karlin, president and co-founder of Q Mixers, said: “The US premium mixer market has reached an inflection point. Our growth is rapid and accelerating – but we are in the early stages of disrupting a category long dominated by brands that don’t resonate with today’s discerning drinkers.
“Premium penetration in mixers substantially lags spirits, and we expect high growth in the years ahead. We look forward to working with Eurazeo Brands and tapping into their expertise to scale our business and establish category leadership globally.”
As part of Eurazeo Brands’ investment, Jim Goldman, senior advisor to Eurazeo, and George Birman, a member of the Eurazeo Brands investment team, will join the Q Mixers board of directors.
Jill Granoff, CEO of Eurazeo Brands, said: “Q has established itself early on as a differentiated and exciting brand led by passionate and entrepreneurial founders and highly experienced sales leadership. Given the tremendous growth opportunity within this category, we are excited to be partnering with Q and to be making the first of multiple food and beverage investments at Eurazeo Brands.”
Formed in 2017 as Eurazeo’s fifth investment division, Eurazeo Brands has so far invested in four companies.
© FoodBev Media Ltd 2019