Manhattan Beach, Calif.-based L.A. Aloe LLC, doing business as Aloe Gloe, announced an investment from the Venturing & Emerging Brands (VEB) unit of The Coca-Cola Co., Atlanta.
Aloe Gloe beverages are available in four flavors: Crisp Aloe, Coconut, Lemonade and White Grape. Introduced in 2012, Aloe Gloe has had a two-year growth rate of 64 percent, the company says citing Nielsen research.
Based on its early success, The Coca-Cola Co. soon saw an opportunity to expand distribution of the product to Southern California and the New York area, the company says. Aloe Gloe now has a major presence in those areas and also is available in 20,000 stores nationwide including Sprouts, Kroger, Safeway and many independent grocers and convenience stores.
"From the start, our goal was to create a unique aloe beverage that could be accessible to everyone," Aloe Gloe Co-Founder and Chief Executive Officer Dino Sarti said in a statement. "This partnership with Coca-Cola will allow us broader access to consumers who will be able to experience this amazing organic product. We are proud to offer a high-quality, 18-calorie per serving organic option at an affordable price and are eager to revolutionize the organic beverage market to be more inclusive of all consumers."
VEB focuses on identifying and nurturing brands with billion-dollar potential, the company says. "Our minority investment in Aloe Gloe gives VEB a further entry in the emerging market segment for plant-based beverages," VEB President Scott Uzzell said. "We look forward to partnering with Aloe Gloe to help them capture growth from this exciting consumer trend."
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