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Dive brief:
- The prebiotic soda brand Olipop is priced at $ 1.85 billion after raising $ 50 million in its latest funding round led by JP Morgan Private Capital’s Growth Equity Partners.
- Olipop will use funds to expand marketing, add flavor and increase availability in traditionally dominated places by heritage soda.
- Healthy soda brands such as Olipops and competitive pope have increased popularity as people appear to reduce their sugar intake and increase the consumption of better products, which have functional materials.
Dive Insight:
Olipop, Price of only $ 200 million In 2022, its valuation has been observed because consumers look more in products they drink.
Olipop is the top single-service, non-ordered beverage manufacturer in dollars and unit growth, stating that circana and spins data. Half of its growth is from the heritage carbonated soft drinks such as Pepsi and Coke, to add OLIPOP to their vehicles from the rest of the new shopkeepers and the current soda drinkers.
“This is staggering and thrilling to achieve $ 1.85B evaluation in the market after just five to six years in the market,” Ben Goodwin, co-founder and CEO said in a statement. Modern soda is displayed as founders of the category. ,
Olipop became beneficial with S in 2024According to the company, Els doubles $ 400 million year-on-year. Goodwin Told Bloomberg The latest funding round will carry forward innovation and help the brand enter more retailers.
Olipop is known for refrigerated soda available in tastes such as cherry vanilla, banana cream, watermelon lime and vintage cola. The company recently added a shelf-dominant offer to its lineup, giving more space to the functional drinks on retailers and enabled it to attract new consumers. The Olipop reaches about 20% of American houses, the company said, it provides an important opportunity for development.
The functional soda is sold close to 50,000 grossers, including Walmart, Target, Hole Foods, Croger, Costco and Starbucks.
The Olipop has deployed the brand as a healthy alternative to 5 grams of sweetener and sugar -laden soda with less than 50 calories. The drink also contains prebiotic fiber that comes from Chirori route, Kasava route and Jerusalem Artichoke to promote the health of the intestine.
JP Morgan’s presence in the latest funding round will help promote the brand among investors and to pursue its position as a profitable business. The Olipops already have a long list of celebrity investors including Jonas Brothers, Mindi Kalinga and Gwneth Paltro, as well as former CEO of PepsiCo, Indra Nooi.
Gudwin told Bloomberg that this would be the final round of the company’s funding, but he has not determined whether he wants to make the company public or sell it to a large unit.
In addition to the latest funding rounds, Olipop appointed Mail Landis as its new President.
With more than 36 years of experience in business giants such as Landis, Coca-Cola and Craft, the beverage will play an important role in increasing the manufacturer. Landis is undoubtedly familiar with the consumer trends and consumption habits, especially when it comes to sugars carbonated drinks.
