LOS ANGELES — Global institutional investor Caisse de dépôt et placement du Québec (CDPQ) has made a $200 million minority investment in Zevia, LLC, maker of zero-calorie beverages sold in more than 35,000 retail locations across the United States and Canada.
“Zevia’s line of zero-sugar, naturally sweetened beverages has resonated with shoppers across the US and Canada, and we’re excited to partner with CDPQ to accelerate our growth,” said Paddy Spence, chief executive officer of Zevia. “Zevia is focused on making the world a better place through sustainable, affordable products that taste great and feature simple, plant-based ingredients — and we look forward to partnering with CDPQ, an investor which sees ESG matters as an opportunity to generate sustainable growth that benefits everyone.”
Zevia said it will use the capital to pursue its global expansion strategy and has selected CDPQ to support the next phase of its development. The company’s portfolio includes sodas, energy drinks, organic teas, mixers, sparkling water and children’s beverages. All Zevia products are sweetened with stevia and contain no artificial sweeteners or sugar. Additionally the products are Non-GMO Project verified, kosher, vegan and free of colors.
“Zevia has enjoyed significant and consistent growth in recent years, firmly taking its place as an industry leader in North America,” said Martin Laguerre, executive vice president and head of private equity and capital solutions at CDPQ. “The company has an accomplished management team, which has fostered a culture of innovation and developed a loyal client base. Going forward, Zevia will be able to benefit from CDPQ’s ability to create value with our established network to maintain its impressive momentum.”