First Beverage Group:
First Beverage Financial, the investment banking arm of First Beverage Group, announced that it acted as the exclusive financial advisor to Healthy Beverage, LLC d/b/a The Healthy Beverage Company and Steaz (“Steaz” or the “Company”) in its sale to a privately-held strategic buyer. Founded in 2002 and based in Doylestown, Pennsylvania, Steaz develops, sources and markets organic, fair trade, ready-to-drink (“RTD”) green tea-based products in three healthy and delicious product lines: Iced Tea, Energy, and Cactus Water, the brand’s newest innovation. Steaz launched its Cactus Water line, which combines the fruit of the prickly pear cactus – a berry-like superfood – with green tea, early in 2016. 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. Steaz will continue to operate independently out if its Doylestown, PA headquarters. Terms of the transaction were not disclosed.
“We are very excited for this next chapter in the Company’s history. This transaction will provide the Company with resources and strategic synergies to further accelerate the growth of the brand. The Company appreciated the guidance and assistance of First Beverage throughout this process and ultimately for negotiating such a strong and supportive partnership” said Linda Barron, CEO of Steaz.
“We were very pleased to have worked with Linda and the Steaz team on this transaction, which provided the former shareholders with liquidity and brought the Company a new, value-added strategic partner to help accelerate the Company’s growth initiatives. Steaz has created a one-of-a-kind green tea-based beverage platform that is extremely well-positioned and poised to be one of the leaders in the tea and functional beverage categories,” said managing partner Nicole Fry of First Beverage Group.
The law firm of Fox Rothschild LLP represented Steaz in this transaction.