Million Dollar Investment Boosts Ciara’s Rum
The Chicago-based private equity firm, InvestBev Group, has injected an investment of one million dollars into the rum brand Ten To One, co-founded by popular singer Ciara, with the aim of expanding its presence into new markets.
InvestBev Group, a notable company in the alcoholic beverages sector, sees a promising future in Ciara’s rum brand. The singer of hits like “1, 2 Step”, joined the company in 2019 and since October 2021 has been actively involved as an investor, co-owner, and director.
With this new capital injection, Ten To One, known for its ultra-premium rum, seeks to reach new heights within the competitive luxury Caribbean rum category, and extend its reach to new markets.
Brian Rosen, founder of InvestBev Group, expressed his excitement to support Ten To One on its growth trajectory, citing the increasing popularity of rum month after month.
Additionally, as part of the growth strategy, InvestBev will collaborate with Pronghorn, a startup backed by Diageo North America. Pronghorn has selected Ten To One as the first of the 57 planned investments in black-owned spirits brands.
Ten To One, originally founded by Marc Farrell, former vice president of Starbucks, seeks not only investors, but partners that resonate with the brand’s vision and can actively contribute to building an iconic legacy, according to Farrell’s words.
InvestBev, a multi-million dollar growth fund, specializes in acquiring raw distilled spirits and providing strategic capital for exceptional brands and teams, with the aim of creating shared value and accelerating growth, extending its operation also to the realm of beverage technology and e-commerce platforms.
Source: thedrinksbusiness.com
