© Outlaw Energy
Private equity firm Grand Crossing Capital Partners has announced a growth capital investment in the branded energy drinks business Outlaw Beverage.
Grand Crossing Capital is a Chicago-based private equity fund built to help branded consumer and retail businesses achieve their full potential. The firm provides access to flexible, patient capital and a vast network of operators and innovators to support companies in their next phase of growth. The investor firm will provide Outlaw with “valuable strategic partnership without the pressure for short–term wins”, it said.
Though financial details were not disclosed, Outlaw becomes the fourth investment in Grand Crossing’s current fund. The three previous investment partners includes Kona Deep, the brand of bottled deep ocean water.
Outlaw Energy conveys an “old west outlaw” image geared towards outdoor enthusiasts and a country music lifestyle. The drink comes in multiple flavours, packed with guarana, taurine and vitamin B, and is sold primarily through convenience stores in the western US and Mexico. The brand was founded and is led by two veteran entrepreneurs in the beverage industry: Doug Weekes, who formerly ran Kraft’s coffee and cold beverage business and launched Mio Energy; and Lance Collins, described as a serial beverage entrepreneur who has been behind brands including Fuze, NOS Energy, Body Armor and Core Natural Water.
“We are delighted to be partnering with entrepreneurs that have proven track records of success in the beverage industry. With favourable trends in the energy drink category, we look forward to helping the Outlaw team grow their unique brand and business.” Brian Jacobsen, managing partner at Grand Crossing.
Weekes and Collins launched Outlaw amid a large shakeup for distribution rights that was spurred by Coca-Cola’s investment in Monster Energy. With Coca-Cola as the distribution partner for Monster, Outlaw plans to fill the distribution void throughout North America, Grand Crossing said.
“Given current dynamics between energy drink manufacturers and distributors, we feel our timing is perfect to grow Outlaw’s unique brand of energy drinks,” noted Weekes.
© FoodBev Media Ltd 2024