COLUMBIA, Md., July 23, 2018 (PRNewswire) — RETHINK Brands, the innovative boxed water company disrupting the children's beverage industry with the creation of RETHINK Kids Water, the first zero calorie, zero sodium, and zero sugar boxed water line for kids, announced Monday it has received a $6.7 million investment for growth and expansion. The latest round of funding was led by AccelFoods, investors in high-growth, natural food & beverage companies.
In 2016, founders Matt Swanson and Chris O'Donovan created RETHINK with the goal of revolutionizing the way people think about water. Last year, RETHINK took the kids juice drink industry head on with the creation of RETHINK Kids Water, an unsweetened organically flavored water. The recipe is the first of its kind, made only of purified water and USDA organic fruit essence, and comes in four flavors: Organic Apple, Organic Berry, Organic Fruit Punch, and Organic Orange Mango. In addition to addressing a void in the market by providing a healthy juice alternative to parents, RETHINK Kids Water is the first boxed water line for kids to be sold at grocers nationwide.
RETHINK has widespread national distribution in more than 11,000 stores, including key accounts such as Walmart, Target, and Kroger, as well as on e-commerce retailers such as Amazon and via the brand's own website, drinkrethinkwater.com. Capital from this round will support RETHINK's explosive growth and continued distribution across the U.S., fund field teams in key markets to execute on the expansion, and develop new innovative product launches in the upcoming year.
"This funding marks a pivotal moment for RETHINK," said Matt Swanson, Co-Founder of RETHINK Brands. "We always knew we were on the right side of health trends and consumer priorities. By addressing the needs of children, we are able to make a real difference: creating a product that encourages healthy eating and drinking habits for our youth, while improving the buying and decision-making experience for parents. Giving our consumers more and better options, and continually innovating our approach, is key to our success, and AccelFoods has been and will continue to be the right partner to help us get to the next level."
"As investors and working mothers, we are thrilled to have partnered with a brand that is bringing true innovation to the children's beverage category. With young children of our own, we know firsthand the challenge of finding quality beverage products we feel good about giving our kids," said Jordan Gaspar, Managing Partner at AccelFoods. "We are excited to strengthen our partnership with RETHINK and bring both parents and kids an organic, zero calorie, and zero sugar beverage option."
ABOUT RETHINK Brands:
Founded in 2016, RETHINK Brands is a solution based beverage company focused on optimizing the products of our everyday life. Today our focus is on kids hydration, a segment that has been largely underserved for decades. For all of the meaningful innovation being developed for today's adult consumer, it is our belief that lasting change is only possible by improving the options available for children. In short, by RETHINKing what kids have today, we can eliminate problems of tomorrow. RETHINK Brands has corporate headquarters in Columbia, Maryland, and is available in more than 10,000 stores, including Walmart, Target, Kroger, and CVS. For more information, visit www.drinkrethinkwater.com
AccelFoods is an early-stage venture fund investing in high-growth packaged food and beverage companies to bring unique products and go-to-market strategies to consumers. AccelFoods partner with founders to scale their businesses smartly and quickly, and connect the dots within the broader food & beverage ecosystem. With nearly $40m under management, AccelFoods is on the hunt for challengers who will create the next generation of enduring brands. To learn more please visit the AccelFoods website at:www.accelfoods.com.