Steaz, an Inventages portfolio company, announces it has been acquired by a privately-held strategic buyer. Founded in 2002 in Doylestown, Pennsylvania, Steaz develops, sources and markets organic, fair trade, ready-to-drink (“RTD”) green tea based products. Steaz launched the first organic energy drink in the industry in 2007 followed by their line of RTD Iced Tea in 2008. Based on IRI industry data, Steaz Iced Tea continues to be the fastest growing RTD Iced Tea in the natural and organic category. With its history of innovation, in March 2016 Steaz launched a new product in the functional water space, Steaz Cactus Water, which combines prickly pear – the berry-like superfruit of cactus – with green tea. Steaz has grown rapidly in recent years, becoming one of the leading organic, green tea-based beverage platforms in the country with a loyal consumer following. Terms of the transaction were not disclosed.
Erich Sieber, Partner and SVP at Inventages Venture Capital, commented “Inventages, as a long-term investor and partner, has supported Steaz with strategic advice and encouraged product innovation enabling sustainable profitable growth. Born in the natural trade, Steaz has proven its brand in the grocery, club and mass channels in the recent years making Steaz an attractive acquisition target”.
“While we are very excited for this next chapter in Company history, we are also very thankful for the long term support of Inventages over the past eight years. Without their financial and managerial support, the Company and brand would not be where it is today. Inventages reinforced the brand through those early “heavy lifting” periods, understanding the needs and challenges” said Linda Barron, CEO of Steaz.
About Inventages Venture Capital
Inventages is one of the world’s largest life-sciences, nutrition and wellness focused venture capital fund managers, with offices in London, Nassau (Bahamas) and Hong Kong. We add value by supporting our portfolio companies with their strategy development, assisting in major financial transactions, recruiting key executives and having access to valuable exit opportunities. We have close ties with top tier pharmaceutical and nutrition companies as well as private equity groups and investment banks.
For further information, please visit http://www.inventages.com
Steaz is a brand of flavorful, great tasting, all natural, organic and fair trade green tea based beverages in three healthy and delicious product lines — iced green teas, cactus waters and energy drinks. Since 2002, Steaz has continued to provide fans with better, high quality beverages while maintaining a strong socially responsible relationship with their ingredient partners around the world. Steaz’ pride is anchored in their Organic and Fair Trade certifications supporting sustainable farming around the world. For further information, please visit www.Steaz.com