🦀 Joe Tea ‘Crawls’ Into Cans

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Glass bottles of Joe Tea are a familiar sight in delis or seaside sandwich shops in the Northeast, but after 28 years in business, the brand has decided it’s time to bring metal into the mix.

At the Fancy Food Show last month, Joe Tea showed off its new 12 oz. cans in three varieties: Peach, Half & Half and Sweet Tea. The brand’s first cans debuted in March, and the next run will include an not-yet-announced fourth flavor. Currently, they are being tested in “a few hundred” locations so the brand can “get a front row seat” to their performance, co-founder and president Steven Prato said.

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Spirits-focused private equity group InvestBev has secured a $50 million delayed draw term loan to support its debt capital program. 

🥃 The loan comes from Victory Park Capital and will support the company’s efforts to provide debt capital to whiskey brands, distilleries and asset managers backed by whiskey barrel collateral. 

🤝 InvestBev recently unified its affiliated entities – InvestBev, Sprout Beverage, Algoma Capital and BevStrat – into a single company. That includes $200 million in assets under management and a separate $100 million in private credit through InvestBev Private Credit. 

🆕 The company also launched new programs for early-stage founders and credit-seeking distillers last year.

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