VENTURA COUNTY, CA, Maker of KeVita Sparkling Probiotic Drinks, closed on a $6 million Series D financing round led by SPK Capital.
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Last week, KeVita, Inc., the maker of KeVita Sparkling Probiotic Drinks, closed on a $6 million Series D financing round led by SPK Capital LLC. Other existing investors, including KarpReilly and the Ecosystem Integrity Fund, participated in the financing of the Oxnard, CA based company. Investment bank Silverwood Partners acted as the exclusive financial advisor to KeVita in the transaction.
'KeVita's rise over the past few years has been phenomenal, with 100% year-over-year growth in 2013 and that momentum continuing into 2014,' said SPK's Elliot Karathanasis, who will join KeVita's board. 'This is an outstanding opportunity to partner with an exceptionally strong brand and management team that continues to emerge as an undisputed leader in the space.' Bill Moses, co-founder and CEO of KeVita added, 'With this round of capital, we will be deploying some new marketing initiatives to even further accelerate the Company's growth. We also continue to invest in innovation and will have new products in the market out later this year. SPK's knowledge and experience in the consumer space was a great fit and addition to our shareholder base.'
Michael Burgmaier, Managing Director of Silverwood Partners added, 'We like to work with companies like KeVita over the long-term and have enjoyed a strong relationship with Bill and his team since early 2012. KeVita is a rare beverage asset out there ' an incredibly strong brand with ever-increasing velocities off the shelf. As experts in the healthy food, beverage and supplement space, we see a lot of companies and our relationships provide for broad access to leading institutional investors in these sectors. We were pleased to bring SPK and KeVita together.'
KeVita produces an organic line of probiotic drinks that range from five to 45 calories per serving. The products, which are vegan and free of dairy, gluten and GMOs, feature a proprietary probiotic culture of four strains. The beverages can be found nationwide in retailers such as Safeway, Vons, Kroger, Ralphs, Sprouts and Whole Foods Market.
KeVita¬® Sparkling Probiotic Drink, recently named one of the 25 Most Innovative Consumer and Retail Brands by Forbes, is delicious vitality in every sip. At the heart of KeVita is its proprietary culture with four strains of live probiotics handcrafted in its own facility in Southern California. KeVita offers a variety of low calorie flavors including Lemon Cayenne Daily Cleanse, Mojita Lime Mint Coconut, Living Greens, Coconut, Lemon Ginger, Mango Coconut, Pomegranate and Strawberry Acai Coconut. Known for its light and refreshing taste, KeVita is certified organic, non-GMO Project Verified, dairy free, gluten free and vegan. KeVita is available in the refrigerated cold case at local co-ops, natural foods stores and select grocers nationwide including Safeway, Vons, Kroger, Ralphs, Sprouts, Whole Foods Market, The Fresh Market, Giant Eagle and Wegmans. For more information, visit: http://kevita.com.
About Silverwood Partners
Silverwood Partners is a specialized investment bank that provides mergers & acquisitions and private placement advisory services to consumer products, media communications technology, and healthcare companies. The firm's targeted industry focus allows it to bring a depth of knowledge and industry relationships to each client's unique situation, and Silverwood has a hands-on, consultative approach with a high degree of senior partner involvement.
A principal focus of Silverwood is representing consumer products companies in the healthy living and broader LOHAS segment. The firm's commitment and expertise in the natural products and healthy living sector has allowed Silverwood to develop strong relationships with institutional investors and strategic buyers active in the industry. For more information click here.
About SPK Capital
SPK Capital is a Los Angeles based private equity firm specializing in small and medium sized businesses with attractive long-term growth and profitability characteristics. With a proven track record of investing in fast growing companies, SPK works alongside talented operators and entrepreneurs in a range of industries including retail, consumer products, healthcare, media and real estate. With a flat organizational structure and its own private capital, SPK has the ability to make investment decisions rapidly and is not beholden to investment committees, limited partners or artificially imposed hold periods.