fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

VIG Partners to acquire Korean tea-based drinks firm Teazen

Team AsiaTechDaily by Team AsiaTechDaily
26 April 2022
in Featured, Private Equity
0
Teazen
18
SHARES
Share on FacebookShare on Twitter
Bookmark(0)

Please login to bookmark

No account yet? Register

South Korea’s buyout fund VIG Partners announced that it had entered into a definitive agreement to acquire an 85% stake in Teazen Inc, a tea-based health drinks company known for “Tae-ri Kim Kombucha”.

VIG said it will acquire the entire 70% stake from IBK-TS Private Equity Fund, the previous major shareholder, and an additional 15% from the 30% stake held by CEO Jong-tae Kim and related parties.

The transaction amount is approximately $70 million and the closing is expected to take place during May.

Established in March 2000, the Company has expanded its product portfolio from traditional tea products to various tea-based health drinks.

Teazen has secured best quality raw materials by directly operating an organic tea farm with a scale of 200,000m 2 in Haenam, Jeollanam-do, and manufactures finished products at a manufacturing plant in Yongin, Gyeonggi-do.

The Company offers not only traditional tea products such as pu’er tea, green tea, black tea, and herbal tea, but also various tea-based health drinks such as organic barley sprout powder, grapefruit green tea, energy
tea, and teas for better sleep.

In particular, Teazen succeeded in commercializing the powder-type kombucha products utilizing freeze drying technology in 2019 for the first time in the world, recording $34 million in sales last year achieving 100% YoY growth rate compared to $17 million in 2020.

Kombucha is a probiotic drink with sweet and sour taste made by adding beneficial bacteria to fermented
green tea or black tea. It has unique characteristics, such as low calorie, containing live lactic acid bacteria
and refreshing flavor due to the carbonic acid produced during fermentation.

As a result, the demand of kombucha has exploded around the world and become a household name for functional beverages, especially after American celebrities started drinking in the early 2010s.

After the closing, VIG plans to recruit professional management and actively expand customer reach. This investment marks the sixth investment from VIG Partners Fund IV, which closed in late 2019 at $850 million, following the investment of $25 million in FASSTO (closed in last April), a fulfillment service provider, which is an official member of Naver’s Smartstore.

What are your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Previous Post

Financial wellbeing platform Payd raises $1.7m seed funding

Next Post

Funding Societies enters neobanking space, invests in Indonesia’s Bank Index

Related Posts

Qoala
Featured

Indonesian insurtech startup Qoala raises $65m in Series B round

May 13, 2022
Chainalysis
Blockchain

Blockchain data platform Chainalysis bags $170m in GIC-led funding

May 13, 2022
Good Startup
Featured

Singapore VC Good Startup closes alt protein fund at $34m

May 12, 2022
oHouse
Featured

South Korean home interior platform oHouse raises $182m

May 10, 2022
Peppermint
Featured

Australian fintech Peppermint gets e-wallet license in the Philippines

May 5, 2022
LottieFiles
Animation

LottieFiles scores $37m in Square Peg-led Series B round

May 5, 2022
Next Post
Funding Societies

Funding Societies enters neobanking space, invests in Indonesia’s Bank Index

Discussion about this post

No Result
View All Result

FREE NEWSLETTER

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo