First Beverage Group:
First Beverage Ventures is pleased to announce that Jack Belsito has joined the firm as a managing partner based in the firm’s New York office.
Jack joins First Beverage from Voss of Norway, where he served as group CEO and led the company through a transformational growth period culminating in a successful transaction with PepsiCo to distribute ultra-premium sparkling and still Voss artesian water in foodservice channels throughout the United States. Mr. Belsito brings more than 30 years of experience in the beverage industry, having held senior executive positions with Cadbury Schweppes including as president of Snapple Distributing Company, president of Mott’s USA and president & CEO of Snapple Beverage Group. Previously, Mr. Belsito served as president of RC Cola Company and as a senior vice president of Snapple Beverage Group while under the ownership of Triarc Beverage Group. Mr. Belsito also held sales leadership positions at PepsiCo and Procter & Gamble.
“I’ve known Jack for many years and have long admired his successes, his track record and most importantly, his reputation,” said Bill Anderson, founder and CEO of First Beverage. “Jack is an outstanding individual and a very accomplished leader. His achievements, network and knowledge of the industry will be a perfect fit for the hands-on, value-add approach we take with our portfolio companies.”
“We are incredibly fortunate to be able to attract a leader of Jack’s caliber to our team, and I look forward to our partnership as we continue to build a best-in-class investment firm capable of delivering even more value to our entrepreneur partners and to our investors,” Kyle Wheeler, managing partner of First Beverage, added. “We continue to see tremendous potential in our target investment areas, and our investment strategy aligns perfectly with the skill set that Jack brings to our team.”
“I am truly excited to join Bill, Kyle and the outstanding team at First Beverage,” said Mr. Belsito. “I have great respect for all they have accomplished, and the chance to join them is an incredible opportunity. Working with passionate brand founders and helping them achieve their dreams is something I am very much looking forward to.”
“The addition of Jack to our accomplished Ventures team substantially increases the depth of our capabilities in the beverage space,” said James Bareuther, First Beverage’s board chairman. “We are excited about the positive impact that Jack will have on our portfolio companies and for the benefit of our limited partners.”