Local drinks company bolsters its board and announces capital raise

Local drinks company bolsters its board and announces capital raise

The rise of the sober curious movement has seen the non-alcoholic beverage industry boom in the last few years, with the category now valued at $178 billion globally. $14.7 billion of that accounts for the emerging 0% alcohol category, and one local company is hot on the trend.

Local company Finery was first to the New Zealand market in the ready-to-drink, low and no-alcohol category, and now the company has its sights on expansion with the support of two high-profile FMCG players investing in the brand, and the announcement of a crowd-funding campaign.

Dene Brosnan

Maree Glading (co-founder of I Love Food Co) and Dene Brosnan (who has held several FMCG roles including Heinz Wattie’s, I Love Food Co and currently NZ Creameries) are joining the Finery board effective immediately bringing their expertise and investment in the company.

With a dedication to craft, Finery is a premium offering made with honest, all-natural, local ingredients. Comprising aromatic botanicals, delicate fruit juices and teas, these refreshing beverages are best enjoyed as an accompaniment to fine food and good conversation.

Finery founder Jane Allan says, “We are thrilled to have the expertise and nous of both Maree and Dene join the Finery board. I’ve been working closely with Maree for a while and when the opportunity to formalise our relationship came up, I jumped at the chance! Dene was recommended to us and his industry credentials are a perfect fit for Finery. We look forward to the future of Finery with Maree and Dene on board!”

Finery first launched into the ‘better for you’ alcohol trend with its 5% alcohol offering and then welcomed its 0% range to market in 2021, becoming the first local brand to market in the alcohol-free category.

With distribution in 180 stores throughout New Zealand and consistent revenue growth since the brand’s inception in 2019, the company now has 33 per cent of the local non-alcoholic category in grocery.

Finery is looking to build on this success with the announcement of a capital raise to support new product development and further global expansion.

In collaboration with Equitise, Finery has a goal of raising $720,000 (with a minimum raise of $300,000) to support a three-year strategic growth plan in Australasia. Expressions of interest start today (18 July) and will run for four weeks, with the campaign going live for investment in mid-August.

The working capital will support an exciting pipeline of new product development, marketing support for increased distribution, servicing increased stock demands and diversifying sales channels.

Once the raise has gone live, it will run for four weeks, or until the goal has been reached. You can secure a drop of Finery for just a few hundred dollars. Register your interest at www.equitise.com.

Finery is available in 0% and 5% alcohol options in four delicious flavours. Choose from four flavours, or try one of each with the selection pack. Finery is available in all good supermarkets, liquor stores and at www.finerycocktails.co.nz.

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