Celsius Holdings Inc., the maker of fitness drink, Celsius, announced that it entered into an agreement providing for a direct private investment of $22 million with two investors, Asia’s leading private equity firm and a leading global institutional investor.
The transaction is expected to close on or about August 25, 2020. The company also announced the expansion into Speedway, the largest chain of company-owned and operated gasoline and convenience stores in the United States.
“We appreciate the recognition and trust of these prestigious leading global institutional investors. This is an important milestone to reinforce the momentum in our business as we continue to capitalize on the global health and wellness trends and disrupt the energy beverage category. The injection of funds will allow us to eliminate our outstanding bonds incurred in connection with our October 2019 acquisition of Func Food Group Oyj, which bonds are due in October 2020 and provide working capital enabling Celsius to maximize the significant growth opportunities in both domestic and global markets,” commented John Fieldly, president and chief executive officer.
Fieldly continued, “Maximizing shareholder value is the paramount goal of our management and board of directors. We have established Celsius as a significant player in the functional energy drink category, facilitated by our increases in market share, outsized growth across multiple channels compared to our peers and a market capitalization that enables larger, industry-focused institutions to justify both the due diligence and capital allocation to invest in Celsius. We believe Celsius has just begun recognizing the opportunity in front of us on a global scale and justifies further investment initiatives that continue to accelerate our growth, maximizing value creation for our shareholders.”
Photo courtesy Celsius Holdings
