Latest news with #LALibations
Yahoo
11 hours ago
- Business
- Yahoo
Better Sour clean-label sweets brand attracts investor cash for growth
Better Sour, a US-based start-up making clean-label sweets, has attracted investment from Taste Tomorrow Ventures. The early-stage investment arm of beverage incubator LA Libations did not disclosed the size of the capital injection nor any stake it has taken in Better Sour, founded in 2023 by entrepreneurs Bella Hughes and Semira Nikou. Better Sour aims 'to transform the candy aisle' with its brand of sour gummies, which are made using 'clean, plant-based ingredients and dyes' derived from fruits and vegetables. According to Danny Stepper, co-founder of Taste Tomorrow Ventures, the investment will support Better Sour's 'next phase of growth and deepens our commitment to backing diverse founders who are reshaping the future of snacks'. Commenting on the funding, Ms Hughes said in a statement: "We are incredibly excited to partner with Taste Tomorrow Ventures and their sister division, LA Libations, whose team understands not only the power of brand and innovation, but the importance of diverse leadership and building with purpose. 'This partnership will help us scale our mission and reach more consumers craving bold taste and culinary better-for-you candy.' Better Sour's products are currently available in more than 3,300 stores and on the Amazon online platform. They are offered in flavours such as Guava Calamansi Lime, Pomegranate Apricot and Passion Fruit, according to Better Sour's website. Scott Guthrie, managing director at Taste Tomorrow Ventures, added: 'Better Sour's rise is a testament to the power of innovation in a multibillion-dollar category, where gummy candy is seeing double-digit growth and sour flavours are exploding, driving the majority of growth in the segment.' Taste Tomorrow Ventures was launched by LA Libations co-founders Stepper and Dino Sarti, in collaboration with Guthrie, whose career includes leadership roles at PepsiCo, Sodastream and Disney. The venture-capital firm kicked off its inaugural fund in March having raised $30m. Taste Tomorrow Ventures' first investment was Just Ice Tea, a US-based beverage company. Just Ice Tea was created by Seth Goldman, the entrepreneur behind Honest Tea, which he sold to The Coca-Cola Company in 2011. Coca-Cola later discontinued the Honest Tea brand approximately three years ago. "Better Sour clean-label sweets brand attracts investor cash for growth " was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
02-06-2025
- Business
- Yahoo
LA Libations founders back Just Ice Tea through new fund
The founders of US soft-drinks incubator LA Libations have invested in US firm Just Ice Tea through their new fund Taste Tomorrow Ventures. LA Libations founders Danny Stepper and Dino Sarti have teamed up with former PepsiCo, Sodastream and Disney executive Scott Guthrie to launch Taste Tomorrow Ventures (TTV), which has so far attracted $30m for its first fund. TTV's first investment is a "strategic equity partnership" with Just Ice Tea, a US-based iced tea brand, the fund said in a statement. Just Ice Tea was founded by Seth Goldman, the founder of Honest Tea, which was sold to The Coca-Cola Company in 2011. Coca-Cola discontinued the production of Honest Tea three years ago. Goldman has established Just Ice Tea at US retailers including Whole Foods Market, Target and CVS Health. Stepper said: 'We couldn't be more excited to partner with Seth Goldman and Just Ice Tea as our first investment. It's a brand that embodies the purpose, innovation, and momentum we want to partner with." TTV's fund has secured the backing of investors including aluminium giant Ball Corporation and US consultancy Advantage Solutions. The fund will focus on investing in early-stage and Series A companies, particularly those offering functional beverages and better-for-you snacks. Guthrie said: 'The next generation of consumers is looking for authenticity, transparency and better lifestyle choices and our first investment in Just Ice Tea perfectly illustrates that.' In April, US-based iced-tea firm The Ryl Company raised $15m in its Series B round, bringing the total amount it has raised to date to $30m. It also announced plans to expand into new markets with its Ryl Tea brand. 'We are still evaluating potential avenues,' the company said. 'However, it's all focused on better-for-you-focused markets, Canada being a strong option in the short term.' Across the Atlantic, UK iced-tea brand Harry Brompton's received a £2m ($2.7m) investment from the Leeds-based private investor Traditum in April. Owned by London-based Tudor Drinks, the brand will use the funds to make ground in convenience and wholesale segments and increase marketing activity, Harry Brompton's founder Ian O'Donohue told Just Drinks. "LA Libations founders back Just Ice Tea through new fund" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
