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US-based drinks company Roar Organic is attracting further investment from local investment firm Factory.
The Bethlehem, Pennsylvania-based company said the $10 million funding “represents a massive vote of confidence in the brand and its future.”
Roar Organic’s product range includes flavored non-carbonated ‘functional’ drinks in ready-to-drink, powdered form.
Factory, Roar Organic’s largest shareholder, first invested in the business in 2020. The size of the company’s shareholding remains undisclosed.
talk to just drinkRoar Organic CEO Bill Lange said the company has “several private investors from within the food and beverage industry.”
He declined to say how much investment the company has raised so far, but said: “While we do not disclose numbers, the brand has grown more than six times since Factory’s initial investment and we continue to take a prudent approach to all investments.” Spending and investment behind the brand It’s home support. ”
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Lange said Lore Organics does not disclose financial data, but cited data from SPINS, which said it “achieved 79% net revenue growth from 2022 to 2023 and more than 85% retail dollar growth.” ” he added.
He added: “Our plans for 2024 are equally ambitious, driven by growth across our existing retail partners and our entry into new distribution channels.”
Roar Organic plans to use the latest funding from Factory to double its investment in marketing, expand distribution through “strategic DSD partnerships in key markets” and hire more sales and marketing staff, Lange said. he said.
Keith Caldwell, partner at Factory LLC, said in a statement: “Our continued investment reflects our unwavering belief in the team, their vision, and their ability to disrupt the beverage industry. From the moment we first encountered Roar, we knew there was something here. I knew we had something special.”
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