Strand Equity Partners, a growth equity fund focused on consumer brands, has acquired a minority ownership stake in Bai, a 100 per cent natural beverage that is only five calories, infused with coffeefruit and flavoured with exotic fruit juices.
Terms of the transaction have not been disclosed.
Ben Weiss, founder and chief executive of Bai, launched the brand in 2009 with the mission to share the powerful antioxidant of coffee’s superfruit with consumers by producing refreshing beverages that harness the unique ingredient. Bai (Mandarin for "pure") delivers 100 per cent natural infusions with one gram of free-radical fighting coffeefruit, naturally sweetened and flavoured with exotic fruit juices. In addition, Bai products are kosher, vegan, gluten- and soy-free, and come in various thirst-quenching fruit flavours in addition to its five-calorie products, Bai5.
"We are thrilled to have Strand Equity Partners, a company with significant experience in growing brands, join our team," says Weiss. "Their investment demonstrates a strong belief in Bai’s mission, and enables us to grow and expand our reach, giving consumers an alternative to traditional caffeinated beverages."
"Bai is an innovative brand with a unique concept and extraordinary leadership," says Seth Rodsky, co-founder of Strand Equity Partners. "We are excited to partner with such a game-changing company and be a part of its success and growth."
Other Strand Equity Partners’ investments include NJOY, Vita Coco, Popchips and Happy Family, which recently sold to Group Danone.
