CAVU Venture Partners, a leading “better-for-you” consumer goods investment firm started by brand builder Rohan Oza and former hedge fund veteran Brett Thomas, today announced the sale of their minority position in Waterloo Sparkling Water (“Waterloo”) as part of a broader majority sale to a group of investors led by Flexis Capital that includes Eurazeo Brands, Moore Strategic Ventures and JW Levin Management Partners.
Based in Austin, Texas, Waterloo was co-founded in 2017 by CAVU Venture Partners to revolutionize refreshment as the healthiest and most satisfying beverage choice for consumers. Waterloo has become one of the fastest growing and largest independent sparkling water brands in the $4 billion sparkling water category.
CAVU was instrumental in building out the growth strategy, helping to develop the product offerings, recruit the management team and anchor key distribution. Since its launch less than three years ago, Waterloo has secured distribution in over 13,000 retailers nationwide including, among others, Whole Foods Market, Costco, Target, Kroger, Walmart, Publix and H-E-B.
“CAVU’s involvement in Waterloo highlights our differentiated investment model, which has involved everything from seeding and launching the business to working with Waterloo CEO Jason Shiver and his management team to build Waterloo into one of the leading independent sparkling water brands in the country,” said Bader Alam, Principal at CAVU Venture Partners. “We are confident that Waterloo will continue on this successful trajectory with the resources and guidance that Flexis and its partners will provide.”
“CAVU has been an incredible partner for Waterloo as we grew our brand and expanded across the country,” said Jason Shiver, CEO of Waterloo. “CAVU’s insights around category trends, branding and channel management allowed Waterloo to grow rapidly from launch while maintaining authenticity and a lifestyle-oriented message that resonates with our consumers. We look forward to building on this momentum with Flexis and it partners to capitalize on continued growth opportunities and provide our consumers with the most refreshing and best tasting sparkling water on the market.”
About CAVU Venture Partners
CAVU Venture Partners invests in high-growth, iconic consumer brands. CAVU was founded by brand builder Rohan Oza and former hedge fund veteran Brett Thomas to build brands for a healthier world and democratize healthy living. CAVU (Ceiling and Visibility Unlimited) is a pilot term that’s used to describe the best possible flying conditions. Using their deep brand-building, operational and financial expertise, CAVU strives to create the best possible conditions for their partners, enabling talented, passionate entrepreneurs to achieve their dreams. Brands include Bai, ONE Brands, Beyond Meat, Vital Proteins, Health-Ade, Once Upon a Farm, Kite Hill, Bulletproof, Guayaki, Hims and Skinny Dipped. For more information, please visit https://www.cavuventures.com/.
About Waterloo Sparkling Water
In 2017, after recognizing that consumers were seeking, but not finding, healthy, authentic, transparent and better-for-them beverage choices that tasted great, the team dared to challenge expectation and launched Waterloo Sparkling Water. A rebel at heart, Waterloo has been breaking the mold since day one and is driven by its cofounders’ firsthand knowledge of the importance of food and beverage choices. The Austin-based brand is a BOLD take on sparkling water, making its mark by focusing on fruit-inspired flavor and aroma and delivering a richer, more authentic taste. Waterloo, founded by Sean Cusack, Clayton Christopher and CAVU Venture Partners, is made with Non-GMO Project verified and Whole 30 Approved flavors, free of calories, sodium, sugar and artificial sweeteners. For the benefit of its fans and the environment, Waterloo has only ever been produced in aluminum cans made with BPA-free liners. For more information, please visit www.drinkwaterloo.com.