|
| | | | |
|
 | | NEW SUN NUTRITION, INC. ANNOUNCES $25 MILLION SERIES A PREFERRED INVESTMENT ROUND LED BY OAK INVESTMENT PARTNERS | | | New Sun Nutrition, Inc. | | 06/06/2007 | | | - Financing from Oak Investment Partners, Radar Partners and Thomas Weisel to be Used to Drive National Distribution of FRS Healthy Energy Beverage Product Line -
New Sun Nutrition, Inc., a developer and distributor of healthy beverages and nutritional supplements, announced today that it received $25 million in a Series A Preferred financing round led by Oak Investment Partners. Radar Partners and Thomas Weisel, chairman and chief executive officer, Thomas Weisel Partners, are also participants in the funding round which provides significant growth capital to the entrepreneurial beverage company to aggressively expand national retail distribution of its FRS product line.
The FRS product line is unique in the energy beverage category because of its use of a special blend of vitamins and antioxidants. New Sun believes that this healthier approach represents a significant opportunity in the $4.9 billion energy beverage category, which was up 56% in 2006 in North America according to Beverage Digest. Founded in 2004 with funding from private investors, including the former CEO and co-founder of Balance Bar, the company has grown the FRS business leveraging its online presence at http://www.frs.com into multi-channel distribution that also includes grocery, nutritional, convenience, drug and cycling retailers. The company also recently announced that champion cyclist and cancer survivor Lance Armstrong joined the board of directors and is serving as a FRS product spokesperson.
In conjunction with the Series A round, Fred Harman, managing partner at Oak Investment Partners, and Richard Rosenblatt, chairman and chief executive officer of Demand Media, Inc., and former chairman of MySpace will join the company's board of directors.
"Our mission is to make a new generation of healthy energy products based upon the FRS formula available to consumers to help them perform better while at work, at home or involved in sporting and recreational activities," commented Maigread Eichten, president and chief executive officer of New Sun Nutrition. "This capital infusion, combined with the depth of experience our new investors and Board of Directors will contribute, is a winning formula that will drive the retail and online success of our FRS product line."
"We think New Sun Nutrition and its FRS product line are at an inflection point in growth as the beverage market is on the verge of a mass substitution of current soft drink and so-called energy drinks, and Oak is excited to provide the growth capital and company assistance to ensure the company is a big success, for both consumers and shareholders," said Fred Harman. "The product is truly a unique energy drink that addresses a strong and growing consumer preference for healthier beverages that are lower in caffeine and calories and FRS is poised to be a leader in this category."
"New Sun Nutrition is a great example of a cutting edge company that is using e-commerce and viral marketing techniques to synergistically build a successful business and use those techniques as a catalyst to drive retail distribution and consumer pull," said Richard Rosenblatt. "This innovative strategy helps reduce the costs of building a national brand as well as building a loyal consumer base even before the product hits many retail shelves."
FRS - Delivering Healthy Energy
What sets FRS apart from traditional energy drinks is its unique approach to energy generation using a special blend of vitamins, and flavonoid antioxidants. Scientifically developed and patented, FRS provides a sustained, healthy energy boost and long-term antioxidant health protection. In March, 2007, FRS was honored with the "Best New Health Initiative" award at the 2007 World Beverage Congress' Beverage Innovations Awards beating out entries from other finalists including Celsius Inc., Coca-Cola, Soya Health Foods and Tate & Lyle.
Getting adequate amounts of beneficial antioxidants is important to help maintain good health. A recent DAPRA-funded clinical study conducted by Appalachian State University demonstrated that quercetin, one of the key active antioxidant ingredients in FRS, can help reduce susceptibility to viral illness and help maintain mental performance in physically stressed individuals.
FRS is an official sponsor of the Discovery Channel Pro Cycling Team and a corporate supporter of the Lance Armstrong Foundation.
About New Sun Nutrition
New Sun Nutrition, Inc., founded in 2004, is a developer and distributor of nutritional supplements, healthy snacks and beverages that is pioneering the development of flavonoid antioxidant health solutions to improve consumer health and wellness.
The company's product portfolio includes FRS(R) healthy energy drink, a scientifically formulated supplement designed to boost energy, enhance performance and neutralize free radicals before they can cause cellular damage. FRS, which stands for the scientific term Free Radical Scavenger, contains a patented combination of flavonoid antioxidants, essential vitamins and metabolic enhancers. The flavonoids are quercetin, an antioxidant typically found in the skins of apples, onions and red grapes, as well as catechins extracted from green tea.
FRS ready-to-drink cans are currently available at select grocery, convenience, health food and bike stores on the West Coast. Consumers should visit http://www.frs.com or call 866-441-3922 for a free trial offer of FRS products and to locate stores. Also, all FRS products are available on the company's web site for convenient home delivery.
SOURCE New Sun Nutrition, Inc. | |
|
| | | View similar articles: | | |
| | | |
|
 | People who viewed this article were also interested in |  | |  |
|