South African drinks company Bos Brands has secured further growth equity from an investment consortium to expand its Bos Ice Tea brand into the UK from its European base.
Will Battersby, CEO, Boss Brands. Source: Submitted
The new investment consortium includes South African Springbok captain Sia Kolisi, his wife, Rachel Kolisi, business director and CEO of the Kolisi Foundation, the Banducci family (including the CEO of Woolworths Australia) and continued investment by the Ferguson family. Great Britain. Investment expert Shawn Bryans will join the board as part of the deal, representing the consortium.
Boss Brands CEO Will Battersby said: “This latest round of funding shows confidence in the brand name and is critical to entering the key UK market and growing one of South Africa’s most popular drinks brands globally.
In the year After launching in South Africa in mid-2010, Boss Brands entered the European market in 2013, launching rooibos iced tea in the Netherlands, France and Belgium. Battersby expects to release Bos Ice Tea drinks into UK retail outlets in spring 2023.
“We are delighted to support Boss Brands in its next phase of growth, leveraging the brand’s strength to help it capture the significant market opportunity in the UK,” said Shawn Brands. “All members of the association are eager to continue the international expansion journey in cooperation with the management and Invenfin.”
Boss Brands, an investor business of Invenfin, a Remgro corporate venture capital firm, advised on the equity raise in partnership with Mazars and Kala Capital Africa. The sum of the latest equity raise was not disclosed.
