"We started Honest Tea 10 years ago with modest resources, but an ambitious vision for offering a new type of beverage -- a delicious healthier drink produced with a consciousness about the way the ingredients are grown. As more consumers become aware of how their decisions impact the health of the planet and themselves, we are thrilled to receive this investment from the world's largest beverage company to help take our brand and our mission to a larger scale and wider audience," said Seth Goldman, co-founder and TeaEO, Honest Tea.
The strategic opportunity was identified by Coca-Cola North America's Venturing and Emerging Brands (VEB) Business Unit. "Honest Tea is on the forefront of the rapidly growing organic beverage business, and Seth Goldman and his management team have successfully anticipated and met consumer needs in this expanding category," said Deryck van Rensburg, president and general manager, Venturing and Emerging Brands, Coca-Cola North America. "This transaction is a superb example of our mission in VEB to seek out and invest in the best beverage entrepreneurs and the highest growth-potential beverages."