Ex-Voss Water and Snapple CEO to assume chief executive role at Health-Ade as part of deal
US drinks investor First Beverage has acquired a controlling stake in Los Angeles-based kombucha maker Health-Ade for an undisclosed sum.
First Bev managing partner Jack Belsito will assume the role of CEO at the kombucha brand to cultivate further growth for the business and capitalise on the consumer demand for gut-healthy products.
Belsito’s career spans a number of c-suite roles at leading beverage companies like Voss Water, Snapple and Cadbury Schweppes.
Health-Ade co-founder Daina Trout will also take on the role of chief mission officer, nine years after establishing the business at a Los Angeles farmers’ market.
“Our vision is for Health-Ade to become the global leader in kombucha and digestive health beverages, one gut at a time,” Belsito said.
“First Bev has been an amazing partner since the beginning, providing not just capital, but expertise and resources through every crucial growth phase of the company,” Trout said.
“We have the highest of expectations for what we can accomplish together as we enter into this transformative phase of growth for Health-Ade. We also want to thank CAVU Venture Partners who was one of our early investors for supporting us through this journey as they will be selling shares as part of this control transaction,” she added.
Colorado investment firm Manna Tree also backed the deal.
Date published: 18 August 2021