Tata Global Beverages, today, announced its lead in the financing of Activate™ (Activate), (www.activatedrinks.com), a performance beverage and enhanced water company. This signals the company’s latest exciting step to pursue disruptive innovation and its endeavour to form new and meaningful partnerships with companies who align with its mission — ‘To make the world better through life-enhancing sustainable hydration’.
Activate, a performance beverage and bottled water company, today, announced that it has raised over $6 million in financing and secured equity commitments for an additional $15 million. The financing is being led by Tata Global Beverages and joined by a group that includes experienced beverage investor, James Berkeley, numerous key strategic beverage distributors, as well as existing investors including, The Tornante Company (Tornante)and the Eisner family. Activate plans to use the capital to continue promoting and marketing the company’s products, expanding into new geographical markets and building out its staff.
This is a follow-up to the company’s $6 million capital raise in March 2010, which was led by First Beverage Group, Tornante and other existing investors.
Tata Global Beverages owns some of the most recognised beverage brands in North America, including Tetley Tea and Eight O’Clock Coffee, and was a significant investor in Vitamin Water along with its original promoters before it was divested. Internationally, Tata Global Beverages is best known for its Tetley and Tata Tea brands.
Activate, which was founded by Anders Eisner and Burke Eiteljorg, produces an innovative beverage which utilises the company’s patented cap technology to maximise the freshness of vitamins by keeping them dry until the product is ready to be consumed.
Dan Holland, who was appointed president of Activate in July 2009, has overseen the company as it has grown monthly revenues over 360 per cent and grown retail accounts from approximately 800 to over 6,600. Additionally, he has led the geographical expansion of Activate from being carried by one distributor in one state to now being carried by 28 distributors in seven states in the US.
“We are thrilled to have found a partner in Tata, a true global powerhouse that has had a significant presence in the North American market for over 60 years,” said Holland. “Activate will not only benefit from the major investment and overall commitment to the company but also from Tata’s deep expertise in the beverage industry and the solid infrastructure they have built along the way.”
Peter Unsworth, group CEO, Tata Global Beverages, said, “We have ambitious growth plans and a vision to become the leader in the ‘good for you’ beverage segment. This investment is the latest piece in our strategic journey to reach consumers in different ways and to help deliver sustainable hydration across the world.”