The UK’s Harry Brompton’s Iced Tea has received a £2m ($2.7m) investment from the Leeds-based private investor Traditum.
The iced tea brand, owned by London-based Tudor Drinks, will use the funds to make ground in convenience and wholesale segments and increase marketing activity, Harry Brompton’s founder Ian O’Donohue told Just Drinks.
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It also looks to expand into the UK on-trade and internationally. O’Donohue did not clarify which global markets it was most likely to target.
The iced tea brand is currently sold in major UK retailers such as Waitrose and Sainsbury’s, as well as online through Amazon and its own website.
O’Donohue added: “The UK iced tea category has been growing rapidly over the last five years and Harry Brompton’s has delivered the majority of the growth over the last 12 months.”
The £2m investment was led by Iain Marlow and Oliver McRae from Traditum. Following the investment, McRae has joined the board of Tudor Drinks.
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By GlobalDataHarry Brompton’s previously raised £300,000 ($399,360) through equity-based crowdfunding platform Crowdcube in 2016.
In a statement, O’Donohue, founder of Harry Brompton’s said the company could be a market leader. “This investment from Traditum will help us further innovate our range, extend our reach to new audiences, and continue shaping the future of non-alcoholic refreshment,” he said.
Founded in 2012, Harry Brompton’s produces a range of iced teas in flavours such as lemon and lime, peach, and summer berries. It sources its black tea from the Great Rift Valley in the Kenyan highlands.
Iain Marlow, head of investments at Traditum, said the funds would reach various facets of the business. “Ian has established Harry Brompton’s as a high growth premium brand that has deservedly established itself as the iced tea of choice to consumers that value quality and true authenticity … Our investment will enable Harry Brompton’s to invest in more great people, strengthen distribution channels, grow brand awareness and meet growing consumer demand in the UK and overseas,” he said.
