Strategic Partnership In Foodservice
Will Expand Consumer Access
To Better-For-You Organic Beverages
COEUR D'ALENE, Idaho, April 28,
2022 /PRNewswire/ -- Tractor Beverage Company, one of
North America's fastest growing
beverage brands, today announced it will raise $60 million in growth funding and has agreed to
enter into a long-term, exclusive sales arrangement with Keurig Dr
Pepper (NASDAQ: KDP) in the foodservice channel. Keurig Dr
Pepper is the lead investor in the funding round,
which will support Tractor's plans to expand its
infrastructure and marketing efforts and to grow the brand's
awareness among younger, health-conscious consumers.
Tractor is the first and only Certified
Organic Non-GMO full line beverage solution tailored for
foodservice operators.
Tractor is the first and only Certified Organic, Non-GMO full
line beverage solution tailored specifically for foodservice
operators. This strategic partnership combines the national and
regional foodservice sales strength and reach of Keurig Dr Pepper
with Tractor's product, production and marketing capabilities,
making organic beverages a more accessible option for consumers
nationwide. The transactions are subject to customary closing
conditions, and terms of the deal were not
disclosed.
Kevin Sherman, Tractor Beverage
CEO, said, "We are thrilled to announce this investment from Keurig
Dr Pepper to accelerate the realization of Tractor's mission to be
the foodservice industry's "better-for-you" beverage solution. We
believe this partnership will enable us to solidify our product
leadership while leveraging the strength of Keurig Dr Pepper's
powerful distribution system to scale our influence in the
foodservice industry." Sherman continued, "From the start,
it's been our goal to be a catalyst for a more accessible and
sustainable food system. We believe business is one of the most
powerful levers for meaningful change, and we're thrilled to
partner with Keurig Dr Pepper and work hand-in-hand to provide
consumers with premium options when dining out of home."
Commenting on the partnership, Derek
Hopkins, President, Cold Beverages, at Keurig Dr
Pepper, shared, "Consumers continue to seek new beverage options
and experiences when they are enjoying their meals. We have built
strong brands and relationships in the restaurant space, and this
strategic partnership with Tractor Beverage complements our
beverage portfolio and supports our commitment to deliver
innovation and develop growth strategies with our customers. We're
excited to work with the entire Tractor team to provide customers
with flexible innovation that delivers great-tasting, clean-label
beverages."
The coronavirus pandemic has led to surging demand for organic
and sustainable foods, particularly among younger demographics,
according to a report from Ecovia Intelligence. Gen Z has shown a
preference for healthy eating, including more organic and natural
foods that are free of additives. Tractor's offerings are Certified
Organic, non-GMO, all-natural, and contain no preservatives,
artificial flavors, or corn syrups. With less sugar and calories
than traditional soda, Tractor serves as a powerful differentiator
for eateries looking to attract a new generation of consumers and
offers them a full line-up of beverage solutions.
About Tractor Beverage Co.
Founded with a
mission to create better beverages for all, Tractor Beverage
Company is the first and only Certified Organic, Non-GMO full line
beverage solution for foodservice. Tractor's handcrafted drinks
feature clean ingredients that deliver on taste, functionality and
an innovative consumer experience. Tractor's vision is to use its
beverage platform to expand organic farm practices—and, in turn,
lead the way to a more sustainable and flourishing future for
restaurants, consumers, and farmers. Tractor was named to Fast
Company's prestigious annual list of the World's Most
Innovative Companies in 2021. For more information, please visit
drinktractor.com or follow along on Instagram at
@drinktractor.
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SOURCE Tractor Beverage Co