The Coca-Cola Company Invests in Aloe Gloe
Coca-Cola to enhance distribution and availability of growing organic Aloe Gloe brand
Aloe Gloe was introduced in 2012 and has had a two-year growth rate of 64%, according to Nielsen research. The idea for the product originated when co-founder Danny Stepper gashed open his forehead while surfing in Manhattan Beach, Calif.
Stepper needed stitches; his doctor prescribed topical aloe vera and recommended that he also drink an aloe beverage. Stepper wasn't satisfied with the options available. But Stepper and his business partners happened to be entrepreneurs who are veterans of the beverage business. They used their experience and expertise to create Aloe Gloe, an aloe water beverage low in sugar and calories that is produced sustainably.
Aloe Gloe rapidly gained consumer adoption. Based on its early success, Coca-Cola soon saw an opportunity to expand distribution of the product to Southern California and the New York area. Aloe Gloe now has a major presence in those areas and is also available in 20,000 stores nationwide including Sprouts, Kroger, Safeway and many independent grocers and convenience stores.
The investment by Coca-Cola deepens the company's existing relationship with Aloe Gloe.