June 13, 2017
Cascadia Capital, an investment bank serving middle market clients, today announced that its client Humm Kombucha (“Humm”) has raised $10 million in growth financing from a syndicate of investors led by San Francisco-based VMG Partners. Cascadia acted as the exclusive financial advisor to Humm in the transaction.
Humm Kombucha, based in Bend, Oregon, is a leading kombucha manufacturer, marketing the product under the Humm brand. Humm is available at natural and conventional grocery stores, mass retailers, convenience stores, and on-tap throughout the United States. This financing is the Company’s first institutional equity and will be used to expand operations and fulfill increased demand for the Humm product line.
“The consumer beverage landscape continues to be reshaped by wellness trends and kombucha is rapidly rising in popularity given its perceived health benefits,” says Bryan Jaffe, Managing Director in Cascadia’s Consumer & Retail practice. “Humm delivers very strong performance at retail based on its taste profile, as well as its accessible and irreverent branding. In combination with VMG Partners, Humm is poised to be the next breakout star in the beverage category.”
“Humm is a dynamic company with a very special culture. When we decided to explore taking on a financial partner, we were intent on finding an investor who both recognized and valued those attributes,” said Humm CEO Jamie Danek. “Early on, Cascadia recognized that to appreciate Humm you had to experience the brand, which included meeting our great team, walking our facility, understanding our process, and appreciating the physical surroundings in which we operate. They designed a process that focused on finding us the right partner who valued our culture and mission, which in turn delivered a great outcome for all of Humm’s stakeholders.”
The financing of Humm Kombucha follows on the heels of recent Food & Beverage transactions successfully completed by Cascadia Capital’s Consumer & Retail team, including the acquisitions of Tillamook Country Smoker, Bubbies Homemade Ice Cream and Desserts, and Two Beers Brewing and Seattle Cider.
For more information, please contact the Cascadia Capital team:
Senior Vice President