Private equity firm InvestBev has made a strategic investment in JuneShine, a ready-to-drink (RTD) and hard kombucha brand.
JuneShine’s line includes canned spirit-based cocktails, such as a vodka Espresso Martini and a Tequila Margarita, and alcoholic kombuchas with flavours such as Watermelon Razz and Strawberry Kiwi Crush.
The kombuchas have an ABV of 6% and contain no sweeteners or artificial flavours. Its cocktails range between 8% and 12% ABV, with some options featuring no added sugar.
Greg Serrao, founder and CEO of San Diego-based JuneShine, said: “We’re grateful to have InvestBev be part of the team. We have big plans for the future as we continue to build a better-for-you alcohol platform, and we are confident they will be value-added partners and advisors for JuneShine as we enter our next stage of growth.”
JuneShine previously raised US$24 million.
Brian Rosen, InvestBev’s chairman, added: “JuneShine has everything we look for in a portfolio company: great-tasting products, a strong team, and a distinct point of view.
“The team not only created a new category in organic hard kombucha, but they have been a driving force in uplevelling the alcoholic beverage industry’s commitment to sustainability and transparency.
“We are thrilled to partner with Greg and welcome JuneShine into the InvestBev family.”
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Author: Lauren Bowes