Coldpress secures £2.3m to help tackle drinks industry “sugar wars”
London-based cold pressed juice business is expanding into almond and coconut drinks as well as sparkling waters with latest investment
Coldpress Foods, a specialist in cold pressed juices and smoothies, has landed £2.3m funding from investment firm Odexia and advisory house Marechale Capital.
Established in 2006 by founder Andrew Gibb, London-based Coldpress seeks to “tackle the sugar wars [of the drinks industry] head on by reminding consumers that the vital fight against sugar must never mean sacrificing essential daily nutritional intake”.
Stocked with top retailers including Boots, Waitrose and Tesco, the business’ juice range – which includes flavours such as pumpkin, beetroot and spinach and nettle – is said to have achieved 67% growth in recent months with sales both home and abroad.
It plans to use the investment to drive its “superior juice cause” by expanding its sales and marketing functions, extending its range to include almond drinks and low-calorie fruit-themed coconut and sparkling waters, and it is also looking to open up additional distribution channels.
While Coldpress is competing against a number of juice brands in the market, the business claims it has a “juice egalitarian status” and that it stands out to consumers as an “everyday affordable brand” rather than an “elitist brand born in the swish deli scene of Chelsea and Knightsbridge”.
On its decision to invest, Marechale Capital’s CEO Patrick Booth-Clibborn commented:
“Coldpress is the dominant brand in the European cold pressed juice market and we’re pleased to have provided our investor clients which such a dynamic and innovative brand investment. At Marechale we are fortunate to have advised and financed some of the UK’s leading consumer and leisure brands, and we are delighted to have backed Gibb; one the leading voices within the cold pressed drinks sector, and his dynamic team”.
Odexia co-founder, Carl Atkinson, added that the investment firm was “especially encouraged by Coldpress’s robust financials that are all too rare among ambitious, modern-day growth companies; a well-managed operation that sits comfortably amongst our growing family of opinion-forming disruptor brands.”
Want to follow in Andrew Gibb’s footsteps and start your own beverage business? Read this free step-by-step guide here.