Austin, Texas-based High Brew Coffee, a company known for its ready-to-drink (RTD) cold-brew coffees, announced a Series A-2 investment of $4 million from Austin, Texas-based CAVU Venture Partners, a recently-launched fund focused on investment and incubation in healthy food and beverage companies. Additionally, High Brew Coffee announced a new distribution partnership with Plano, Texas-based Dr Pepper Snapple Group (DPS), which will include expanded distribution in key markets, it says.
“We are excited to strengthen our relationship with CAVU Venture Partners,” said David Smith, founder and chief executive officer of High Brew Coffee, in a statement. “It has been great working with Clayton, Brett and Rohan, and I look forward to what this partnership will help us accomplish in the months and years to come.
“I’m also very excited about our new relationship with Dr Pepper Snapple,” he continued. “With the resources and support they bring to the table, we remain confident our strong growth will continue as we deliver premium, on-the-go, cold brew functionality to our customers.”
High Brew Coffee’s new distribution partnership with DPS will begin with several strategic markets, including New York, Chicago, Dallas, Houston and Austin, Texas, the company says.
“We’re very pleased to have High Brew Coffee as part of our portfolio of allied brands,” said Rodger Collins, president of packaged beverages for DPS. “Ready-to-drink coffee has great potential, and High Brew gives us a way to participate in this category with a great tasting and differentiated product.”
The investment and distribution deal are the latest in a number of major developments for the cold-brew coffee company. High Brew Coffee’s new latté line was introduced at Natural Products Expo West Trade Show in March and is expected to be available this summer, the company says. It also recently expanded its executive leadership team, with new leaders in sales, operations and marketing, it adds.
“High Brew Coffee is on an amazing growth trajectory,” said Clayton Christopher, co-founder of CAVU Venture Partners. “Our team at CAVU is thrilled to be working with David and his team at High Brew as they shake up the ready-to-drink coffee category.”