Coca-Cola invests in aloe water brand to strengthen relationship

From:FoodBev

Coca-Cola has invested in the company behind Aloe Gloe, a US brand of organic aloe water drinks, through its Venturing & Emerging Brands (VEB) division.

The investment strengthens the relationship between the two companies, which dates back to when Aloe Gloe was introduced in 2012.

The idea for the product originated when co-founder Danny Stepper gashed his forehead while surfing in California, and was recommended by doctors to drink an aloe beverage. Not satisfied with the options available, Stepper and his business partners used their experience in the beverage industry to create Aloe Gloe, which is low in sugar and calories, as well as being produced sustainably.

Based on its early success, Coca-Cola soon saw an opportunity to expand distribution of the product to Southern California and the New York area, and, as well as in those areas, Aloe Gloe now has a major presence in 20,000 stores across the US including outlets of Sprouts, Kroger, Safeway and many independent grocers and convenience stores.

It is available in four flavours: crisp aloe, coconut, lemonade, and white grape.

“From the start, our goal was to create a unique aloe beverage that could be accessible to everyone,” said Aloe Gloe co-founder and CEO Dino Sarti. “This partnership with Coca-Cola will allow us broader access to consumers who will be able to experience this amazing organic product. We are proud to offer a high-quality, 18-calorie-per-serving organic option at an affordable price and are eager to revolutionise the organic beverage market to be more inclusive of all consumers.”

Coca-Cola’s latest investment is a vote of confidence in Aloe Gloe’s potential to become a $1 billion brand.

“Our minority investment in Aloe Gloe gives VEB a further entry in the emerging market segment for plant-based beverages,” said Coca-Cola VEB president Scott Uzzell. “We look forward to partnering with Aloe Gloe to help them capture growth from this exciting consumer trend.”

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