Virgo Investment Group Announces Growth Equity Investments in Two L.A. Libations "Better for You" Brands
BURLINGAME, Calif., May 26, 2021 /PRNewswire/ -- Virgo Investment Group ("Virgo") today announced a strategic investment with beverage incubator L.A. Libations, leading off with two initial investments in L.A. Libations' brands. ARRIBA, a better for you Chelada & Mexican Style Soda Brand in which Molson Coors is an investor and ORRO, a plant-based protein drink. L.A. Libations is a next-generation beverage creator, incubator and accelerator that collaborates and partners with emerging brands and retailers that are focused on disrupting the beverage category by leveraging products that appeal to health-engaged consumers. The partnership supports Virgo's continued focus of strategically expanding its franchises within the health and wellness sectors, leveraging L.A. Libations' insights, experience and connections to invest in "better for you" products.
ORRO is a plant based nutritional Mini Meal complete with 16 grams of non-GMO pea protein and a 23 vitamin and mineral blend. Non-GMO, gluten and dairy free with no added sugars, sweeteners, or soy, the product offers consumers a portable meal replacement option to maintain a healthy lifestyle and boosted energy levels throughout the day. ORRO, founded by serial entrepreneur Shaun Neff and L.A. Libations, has partnered with top vegan influencer Tabitha Brown and experienced explosive growth since launch. ARRIBA is a clean label Michelada option that uses real organic tomatoes, less sodium and no MSG. The two brands align with Virgo's initiative to partner with mission-based businesses in emerging trends that offer innovative and disruptive products. ARRIBA has enjoyed an investment from Molson Coors and is distributed alongside their iconic beer brands in retailers such as Walmart, Kroger, and Safeway Albertsons.
"We are thrilled to be partnering with Danny and the L.A. Libations team and leveraging their 10+ years of insights and experiences in successfully launching and driving brands in the highly competitive beverage category," said Scott Guthrie, Virgo Managing Director of Media/Entertainment and Wellness investments.
L.A. Libations CEO and Founder, Danny Stepper, said, "Virgo shares our vision and passion in bringing better for you brands to the masses. Our aligned mission and values will enable us to continue to create, identify and invest in the iconic health and wellness brands with our partners. We are very excited to initially partner on ORRO & ARRIBA, and we look forward to building many more brands together."
Virgo's investment capital will be used to further accelerate ORRO and ARRIBA'S growth as it works to scale distribution platforms and brand progression.
About Virgo Investment Group
Founded in 2009, Virgo is a private investment firm based in the San Francisco Bay Area that has an established track record of building and transforming businesses. Virgo seeks to identify and grow unique business models into differentiated and profitable industry leading companies. Virgo focuses on two distinct strategies - creating, building and scaling asset-based/credit businesses, and executing transformative growth equity investments in Founder-led or Family-owned companies. The Firm has raised over $1.8 billion and completed 65 investments to date. For more information, please visit www.virgo-llc.com.
About LA Libations
Founded by three best friends and beverage executives in 2009, L.A. Libations ("LAL") is a Molson Coors minority owned next generation beverage creator, incubator and accelerator. LAL has established itself as a best-in-class entrepreneurial beverage company by forging industry successes, enjoying investment events, and prized brand exits with some of the biggest beverage companies in the world. LAL has created or been involved in some of the biggest emerging beverages in the last decade such as ZOA energy (in collaboration with Dwayne "The Rock" Johnson and Molson Coors), Core Water (Keurig Dr Pepper), Body Armor (The Coca-Cola Company), Zico Coconut Water (The Coca-Cola Company) ORRO (Anheueser Busch), ARRIBA (Molson Coors). As the Emerging Beverage Category Captain and a trusted advisor to many of the country's largest retailers, LAL drives innovation and accessibility in the "better for you" beverage category. To learn more about L.A. Libations, visit www.lalibations.com or on Instagram through @lalibations.
SOURCE Virgo Investment Group
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