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Home Consumer Goods

Tractor Beverage Company Announces $60 Million Funding Round Led by Keurig Dr. Pepper (NASDAQ: KDP)

by admin

April 28, 2022

in Consumer Goods, Venture Capital/Private Equity (VC/PE)

Tractor Beverage Company 60 Million Funding Keurig Dr Pepper NASDAQ KDP Spotlight Growth

Tractor Beverage Company says its mission is to create “better beverages for all.” A fast growing beverage brand, Tractor Beverage Company is the first and only Certified Organic, non-GMO beverage provider for foodservice. Its vision is to support and expand organic farming initiatives by connecting the specialty farmers with restaurants and consumers. Named as one of Fast Company’s “World’s Most Innovative Companies” in 2021, Tractor Beverage Company is embarking on its next stage of growth.

The better-for-you organic beverage company just announced plans to raise $60 million in growth funding, with Keurig Dr. Pepper (NASDAQ: KDP) as the lead investor. In addition to leading the growth funding, Keurig Dr. Pepper has agreed to enter into a long-term exclusive sales agreement with Tractor Beverage in the foodservice industry. The long-term agreement will allow Tractor Beverage Company to leverage Keurig Dr. Pepper’s robust national and regional foodservice sales footprint.

As for the $60 million growth funds, the company says it plans to use the proceeds for expanding its infrastructure and marketing campaign to grow awareness among younger and health-conscious consumers. No specific terms from the transaction were made public.

Ecovia Intelligence reports that the COVID-19 pandemic has led to a significant increase in demand for organic and sustainable foods, particularly among the younger generations. The market research firm notes that Gen Z consumers, in particular, have shown a strong preference for healthy food options, including organic and natural foods that are free of additives.

Kevin Sherman, Tractor Beverage CEO: “We are thrilled to announce this investment from Keurig Dr Pepper to accelerate the realization of Tractor’s mission to be the foodservice industry’s “better-for-you” beverage solution. We believe this partnership will enable us to solidify our product leadership while leveraging the strength of Keurig Dr Pepper’s powerful distribution system to scale our influence in the foodservice industry.” Sherman continued, “From the start, it’s been our goal to be a catalyst for a more accessible and sustainable food system. We believe business is one of the most powerful levers for meaningful change, and we’re thrilled to partner with Keurig Dr Pepper and work hand-in-hand to provide consumers with premium options when dining out of home.”