NEW YORK–(BUSINESS WIRE)–June 2, 2017–
Owl’s Brew, creators of the tea-based cocktail mixer and Owl’s Brew Radler, the first ever blend of tea and beer, has announced the closing of their Series A fundraise. Investors include Cambridge Companies SPG and ZX Ventures, a startup venture group that’s part of Anheuser-Busch InBev. Funding will be used for the launch of Owl’s Brew Radler, as well as the growth of the Owl’s Brew mixer brand.
Created by entrepreneurs and tea enthusiasts Jennie Ripps and Maria Littlefield, Owl’s Brew was designed with versatility and simplicity in mind. Each cocktail mixer pairs with a variety of spirits, and even wine. Ripps’ and Littlefield’s cocktail of choice often included mixing Owl’s Brew with their favorite craft beers. They were so impressed with how well the two beverages paired, they decided to enter the ready-to-drink category and launch Owl’s Brew Radler. While Radlers traditionally combine light beer with lemonade or lemon soda, Ripps and Littlefield decided to swap out the lemonade for tea and create their own innovative blends. Owl’s Brew Radler combines the world’s two oldest brewed beverages into one and is the first ever mix of beer and tea, “the perfect double-brew.”
2017 is a key year for Owl’s Brew, as they’ve just entered the growing craft beer category. Owl’s Brew Radler, which consists of three flavors, is hitting shelves across the country. Owl’s Brew Radlers can be found in select on and off-premise locations in New York, New Jersey, Maine, Massachusetts, Connecticut, Vermont, Rhode Island, Pennsylvania, Delaware, DC, Maryland, Virginia, North Carolina, South Carolina, Georgia, Tennessee, and Ohio with plans to eventually expand to the west coast and nationwide.
Cambridge Companies SPG, a strategic investment company, closed the Series A fundraise for Owl’s Brew. “We’re pleased to be part of such an innovative organization. Jennie Ripps and Maria Littlefield are incredible founders with a proven ability to bring ideas to mass market. Cambridge Companies SPG is proud to be part of this fast growing brand which has established impressive category velocity, wide spread distribution and strategic partnerships across North America,” said Filipp Chebotarev, Chief Operating Officer and Partner at Cambridge Companies SPG.
“The Radler is a fast growing category in the $109B U.S. Annual Beer Market and Owl’s Brew Radler is by far the best tasting and highest quality Radler available. Our firm is passionate about investing alongside extraordinary female founders like Jennie Ripps and Maria Littlefield,” said Polina Chebotareva, Partner and Cambridge Companies SPG.
The Blondie recently took home the award for “Best Wheat Beer” at the Atlantic City Beer Festival, while That’s My JAM won “Best Fruit Beer” at the Bacon and Beer Classic in New York City.
About Owl’s Brew
At the end of 2016, Owl’s Brew added a new product to its stable – Owl’s Brew Radler, the first ever blend of tea and beer. Since launching Owl’s Brew Mixers in 2013, Jennie Ripps and Maria Littlefield have crafted innovative beverages using tea and botanicals. Both Owl’s Brew Mixers and Owl’s Brew Radlers are fresh-brewed from organic tea bases and packed with antioxidants and vitamin C. Owl’s Brew Mixers are non-alcoholic and consist of five different flavors including The Classic, White and Vine, Pink and Black, Coco-Lada and Wicked Green. Owl’s Brew Radler is available in three SKUs, The Blondie, Wicked Watermelon and That’s My JAM, all of which have an ABV of 3.8%. Each Radler is comprised of 60% craft beer and 40% fresh-brewed tea. Owl’s Brew mixers are available for nationwide shipping online and at retails across the country. Owl’s Brew Radler has been rolling out along the east coast since October 2016, with plans to go nationwide. The Blondie recently took home the award for “Best Wheat, Belgian, Belgian Style Beer” at the Atlantic City Beer Fest. Owl’s Brew has received numerous awards and accolades including a Sofi Award for “Best Cold Beverage” and BevNet’s “Best Tea Based Beverage.” Forbes also named honored Maria in its coveted “30 Under 30” list and Specialty Food selected Jennie as a “35 Under 35” finalist in the Food & Beverage Industry category. The co-founders published a book, Wise Cocktails (Rodale Press, Oct ’15), ranked in the top ten in its category on Amazon after publication.
About Cambridge Companies SPG
Cambridge Companies SPG (“Special Projects Group”) LLC is Strategic Opportunity Investment Company with a focus on Venture Capital, Real Estate and Private Equity Transactions. At Cambridge Companies our investments are structured to preserve and grow capital, provide financial security to our shareholders and have discernible social impact. More information on Cambridge Companies can be found on their website here.
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