LOS ANGELES--(BUSINESS WIRE)--Nov 16, 2023--
Kingswood Capital Management and First Bev announced today a significant cash investment in G FUEL, the market leader in energy drinks targeting the 3+ billion global gamer community. Precise terms of the 8-figure deal were not immediately released, but the deal provides significant growth equity for the company. Alongside the investment, Bryan Crowley, formerly of ZenWTR, Soylent, Pabst Brewing Company, and Mars, Inc., was named by G FUEL as the company’s new CEO.
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New G FUEL CEO, Bryan Crowley (left) with G FUEL Founder, Clifford Morgan. (Photo: Business Wire)
“G FUEL was built on a winning formula of quality product paired with hugely popular influencers and authentic content creators. That formula has cemented G FUEL as one of gaming culture’s bedrock brands,” explained Crowley. “I am excited to work alongside the G FUEL team and our partners to leverage these assets to scale the company.”
Crowley comes to G FUEL with a wealth of leadership experience in the beverage industry, most recently as CEO of Casa Azul Spirits. Prior to that, Crowley was CEO of ZenWTR, CEO of Soylent, Chief Strategy Officer for KeVita, President of VEEV Spirits, Chief Marketing Officer for Pabst Brewing Company, and VP of Marketing & Sales at Mars, Inc. Crowley also co-founded Flying Embers Hard Kombucha, serving on its board.
As Crowley steps in as CEO, G FUEL Founder Clifford Morgan and President/COO Jack LoParco will continue as key members of the company’s leadership team.
“Bryan, Kingswood, and First Bev all understand the incredible wealth of opportunity that exists with this brand,” said G FUEL Founder Clifford Morgan. “The confidence, capital, and leadership they’ve injected into G FUEL will help catalyze our next wave of growth.”
“As we evaluated the opportunity, we were blown away by G FUEL’s incredible social following with over 5 million followers across their social channels,” noted Andrew Kovach, Managing Director at Kingswood. “This highlights the incredible passion and loyalty for the brand.”
With more than 352,000 5-star Shopper Approved Ratings, a shipping network that spans over 125 countries, and a powerful global social media footprint, G FUEL maintains the industry's largest and most passionate community of fans, customers, content creators, and partners. G FUEL influencers include the likes of PewDiePie, Ninja, and Mikal Bridges. The company also partners with brands from the biggest gaming and entertainment companies including Activision, SEGA of America, Capcom, EA, Bethesda Game Studios, Warner Bros., VIZ Media, Rare Ltd., Disney, Lucasfilm, Sony Pictures, The Tetris Company and Bandai Namco Entertainment Inc.
“We look forward to partnering with Bryan and G FUEL’s leadership team to help expand this business,” said Bob Nakasone, Managing Director at First Bev. “There’s still so much untapped potential, both for the category and the brand itself.”
About Kingswood Capital Management, LP
Kingswood Capital Management, LP is a private investment firm primarily focused on investing in businesses in transition. In addition to access to capital, Kingswood brings relevant industry relationships and a broad network of internal and external operating resources that can strengthen the businesses it partners with and enhance value. Kingswood has extensive experience with complex transactions where it provides tailored solutions that balance the objectives of all constituents. For more information, please refer to the Kingswood website at www.kingswood-capital.com.
About First Bev
First Bev invests in innovative and transformational beverage brands, helping beverage companies grow and stand out in a dynamic and competitive industry. We form true partnerships with our portfolio companies and the entrepreneurs leading them by leveraging both our financial and intellectual capital. Headquartered in Los Angeles, the First Bev team is made up of entrepreneurial senior beverage executives with decades of collective industry experience. For more information, please visit www.firstbev.com.
About G FUEL
G FUEL provides fans with a game-changing, performance-driven alternative to standard energy drink products. With an ever-expanding, sugar-free product lineup that includes a powdered Energy Formula, ready-to-drink cans, and powdered Hydration Formula, G FUEL has firmly established itself as the market leader in the gamer energy drink industry. Join the movement today at GFUEL.com and follow us on social media @GFuelEnergy.
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CONTACT: Media contacts:
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Mark Ballard /mark@harmonica.co
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: MEN ENTERTAINMENT ONLINE RETAIL PROFESSIONAL SERVICES CONSUMER FOOD/BEVERAGE FITNESS & NUTRITION RETAIL OTHER CONSUMER FINANCE ELECTRONIC GAMES HEALTH
SOURCE: G FUEL
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PUB: 11/16/2023 11:00 AM/DISC: 11/16/2023 11:01 AM
http://www.businesswire.com/news/home/20231116437732/en
