BackPartake Brewing creates award-winning non-alcoholic craft beer that is all natural and low in calories.
Visit their website for more information. The official press release follows.
CANADA’S PARTAKE BREWING RAISES $4 MILLION OF SERIES A CAPITAL IN FUNDING ROUND LED BY EXPORT DEVELOPMENT CANADA, NATURAL PRODUCTS CANADA AND CIRCLEUP GROWTH PARTNERS TO REDEFINE THE NON-ALCOHOLIC BEER CATEGORY
With Support from McLean & Associates, and Barrel Ventures Calgary-Based Brand Looks to Expand Category Leadership in Canada and the United State
CALGARY, AB (September 9, 2020) – Calgary-based Partake Brewing, the leading craft non-alcoholic beer brand in North America, announced today it has raised $4 million in its first institutional funding round. The fundraising was led by Export Development Canada (EDC), Natural Products Canada (NPC) and San Francisco based company, CircleUp Growth Partners (CircleUp). Self-funded since launching three years ago, the brand is now poised to lead the renaissance of the non-alcoholic beer category that consumers are driving as they change why, when and how they drink and socialize. Joining EDC, NPC and CircleUp in this financing are, McLean & Associates, and Barrel Ventures.
Launched in 2017, Partake Brewing is a non-alcoholic craft beer brand that focuses on flavour, health, socializing and inclusivity for those looking for a non-alcoholic option, whether as a need or increasingly as a lifestyle choice. Partake Brewing was founded by Canadian Ted Fleming, after a diagnosis of Crohn’s Disease led him to give up alcohol. Ted turned to drinking non-alcoholic beer to maintain the connection and interaction that comes with social drinking. He found that variety and taste were missing from current offerings, inspiring him to brew his own. Partake Brewing now offers a variety of craft non-alcoholic beers that consumers love for their exceptional taste and category-leading calorie profiles (10 – 30 calories per can). Partake has been the recipient of numerous international and Canadian awards for product quality and innovation including a Gold Medal at the World Beer Awards for Best Non-Alcoholic Beer and Best Beverage at Vancouver’s Grocery and Specialty Food West Show.
Sales of Partake Brewing have grown steadily, increasing 250% between 2019 – 2020, and continued to grow during the global COVID-19 pandemic, with an increase of 100% from March 2020 to present. Partake has added more than 1,000 retailers to its roster since the 2017 launch, and in April, launched a new ecommerce site to bring a more convenient retail experience to consumers.
“Natural Products Canada has been an enthusiastic participant in Partake’s success to date,” says Shelley King, CEO, Natural Products Canada. “Partake has demonstrated exceptional focus on the demands of their consumers, and a persistence and discipline in getting their products to market. We could not be more proud to join the other investors in this important next step of Partake’s growth plan.”
The new funds will accelerate Partake Brewing’s growth in the Canadian and US markets by allowing the brand to secure key hires, grow its distribution and retail network, and build consumer brand awareness to support expanding coverage with Canadian retailers such as the LCBO, Sobeys, Safeway and Loblaws Companies Ltd.
“We’re on a mission to help entrepreneurs thrive by giving them the capital and resources they need,” said Pat Robinson, Managing Director, CircleUp Growth Partners and Member of the Board for Partake Brewing. “Ted has built an amazing capital-efficient business and we’re excited to partner with him to accelerate growth.”
“Helio, our proprietary technology platform, flagged that Partake excels on taste, variety and nutritionals – the top three purchase criteria in the non-alcoholic beer category,” said Trevor Rechnitz, Partner, CircleUp Growth Partners. “Partake’s five varieties, 10 calories and 2 grams of carbs per can, and award-winning taste combine to differentiate it from the other emerging players.”
For more information about Partake Brewing and its craft non-alcoholic beers, please visit https://drinkpartake.com/.
About Partake Brewing
Launched in 2017, Partake Brewing has become the leader in craft non-alcoholic beer in North America with distribution in major retailers across Canada and the United States. Brewed using a proprietary process, Partake Brewing is praised by customers for its unique combination of exceptional flavour, classic styles, and game-changing nutritionals.
For more information, please visit www.drinkpartake.com.
About Natural Products Canada (NPC)
Natural Products Canada (NPC) is the driving force behind Canada’s Natural Product Innovation Cluster – a strategic community of SMEs, research institutes, corporations, investors, government departments, and others who support the development and commercialization of naturally-derived products and technologies that can be applied to a broad range of industries. NPC offers Commercialization Programs to advance high-potential products and technologies; provides connections and innovation scouting services to industry and investors; and leverages its Investment Fund to help develop and de-risk promising Canadian opportunities. NPC has over 800 opportunities in its pipeline, has completed 12 investments, and has already experienced two exits. NPC is funded by a range of public and private investors, including the Government of Canada’s Centre of Excellence in Commercialization and Research (CECR) program, administered by the Networks of Centres of Excellence.
For more information, please visit www.naturalproductscanada.com.
About Export Development Canada (EDC)
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges brought on by the global response to COVID-19, the Government of Canada has expanded EDC’s domestic capabilities until December 31, 2021. This broader mandate will enable EDC to expand its support to companies focused domestically.
For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.
About CircleUp Growth Partners
Focused on investing in visionary founders, CircleUp Growth Partners leverages CircleUp’s proprietary technology asset, Helio, to identify innovative brands with differentiated products and provides entrepreneurs with a unique set of resources and actionable, data-driven insights to propel their businesses forward. The company has a proven track record of identifying emerging brands, and their current investments in food & beverage include Fort Point Beer Company and Koia. For more information, please visit www.circleup.com.