US-based organic drinks and smoothies producer Suja Juice secured an undisclosed sum from beverage company Coca-Cola on Wednesday, in return for a minority stake of undisclosed size.
Investment bank Goldman Sachs’ merchant banking division has also acquired a minority stake in Suja in return for an undisclosed amount.
Coca-Cola’s investment has been made as part of a deal that will involve it distributing Suja’s products through its fruit juice and smoothie drinks subsidiary, Odwalla. Suja will use the cash to increase its manufacturing capabilities.
Suja Juice raised $21m in December 2014 from Evolution Media Partners, a joint venture between media company Participant Media, private equity fund TPG Growth, and Evolution Media Capital, a merchant bank affiliated with talent agency Creative Artists Agency.
Actors Sofia Vergara, Leonardo DiCaprio and Jared Leto also took part in the 2014 round. Suja Life, the parent company of Suja Juice, had disclosed $47.5m in funding prior to Coca-Cola and Goldman Sachs’ investments, based on regulatory filings.
– Photo courtesy of Suja Life, LLC