Tractor Beverage Company Plans $60 Million Funding Round with Keurig Dr Pepper Lead Investor
Strategic Partnership In Foodservice Will Expand Consumer Access To Better-For-You Organic Beverages
COEUR D'ALENE, Idaho, April 28, 2022 /PRNewswire/ -- Tractor Beverage Company, one of North America's fastest growing beverage brands, today announced it will raise $60 million in growth funding and has agreed to enter into a long-term, exclusive sales arrangement with Keurig Dr Pepper (NASDAQ: KDP) in the foodservice channel. Keurig Dr Pepper is the lead investor in the funding round, which will support Tractor's plans to expand its infrastructure and marketing efforts and to grow the brand's awareness among younger, health-conscious consumers.
Tractor is the first and only Certified Organic, Non-GMO full line beverage solution tailored specifically for foodservice operators. This strategic partnership combines the national and regional foodservice sales strength and reach of Keurig Dr Pepper with Tractor's product, production and marketing capabilities, making organic beverages a more accessible option for consumers nationwide. The transactions are subject to customary closing conditions, and terms of the deal were not disclosed.
Kevin Sherman, Tractor Beverage CEO, said, "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."
Commenting on the partnership, Derek Hopkins, President, Cold Beverages, at Keurig Dr Pepper, shared, "Consumers continue to seek new beverage options and experiences when they are enjoying their meals. We have built strong brands and relationships in the restaurant space, and this strategic partnership with Tractor Beverage complements our beverage portfolio and supports our commitment to deliver innovation and develop growth strategies with our customers. We're excited to work with the entire Tractor team to provide customers with flexible innovation that delivers great-tasting, clean-label beverages."
The coronavirus pandemic has led to surging demand for organic and sustainable foods, particularly among younger demographics, according to a report from Ecovia Intelligence. Gen Z has shown a preference for healthy eating, including more organic and natural foods that are free of additives. Tractor's offerings are Certified Organic, non-GMO, all-natural, and contain no preservatives, artificial flavors, or corn syrups. With less sugar and calories than traditional soda, Tractor serves as a powerful differentiator for eateries looking to attract a new generation of consumers and offers them a full line-up of beverage solutions.
About Tractor Beverage Co.
Founded with a mission to create better beverages for all, Tractor Beverage Company is the first and only Certified Organic, Non-GMO full line beverage solution for foodservice. Tractor's handcrafted drinks feature clean ingredients that deliver on taste, functionality and an innovative consumer experience. Tractor's vision is to use its beverage platform to expand organic farm practices—and, in turn, lead the way to a more sustainable and flourishing future for restaurants, consumers, and farmers. Tractor was named to Fast Company's prestigious annual list of the World's Most Innovative Companies in 2021. For more information, please visit drinktractor.com or follow along on Instagram at @drinktractor.
SOURCE Tractor Beverage Co
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