Hard Fizz has announced the successful competition of a $2.5 million capital raise, conducted to help the seltzer brand keep pace with growing product demand following its recently achieved national distribution.
CEO Wade Tiller said, “this investment into Hard Fizz provides an opportunity for us to amplify our brand awareness through unique marketing initiatives, as well as meet the increasing customer demand for the Hard Fizz products via our new retail channels.”
The investment was led by Tom Paton of Conargo Capital, who Tiller says “will bring a wealth of experience in high growth FMCG businesses to the Hard Fizz board.” Laurence Escalante also invested in Hard Fizz’s equity raising via his family office, Lance East Office.
“We welcome [Tom Paton’s] and Lance East’s strategic insights and contribution,” said Tiller.
Reflecting on the investment, Tom Paton says he sees “no limitations on the brands ability to grow domestically and abroad, especially with the backing of the brand’s co-founders and the exceptional management team.
“Investing in Hard Fizz is an ideal partnership for Conargo Capital given the brands aggressive growth profile and bold marketing strategy,” he said.
The capital raising was led by Joseph Green, Managing Director – Advisory of Ranged, an FMCG advisory company.
“The strong ambassador community and notoriety of the Hard Fizz brand captured investors’ attention despite the current economic climate being particularly challenging for small and medium sized brands to raise capital in,” said Green.
“Looking ahead, Ranged has a strong portfolio of disruptive FMCG brands that we anticipate will follow suit and be looking to raise capital over the next 12 months.”
Hard Fizz, the seltzer brand owned by high profile Australian DJ artist, FISHER, has seen recent significant growth such as going national in all 1,400 BWS retail outlets earlier this year along with releasing three Hard FIZZ SKUs across more than 800 First Choice and Liquorland stores nationwide. It was also recently named as the official partner of LIV Golf Adelaide as the official alcoholic soda supplier.
According to Hard Fizz’s CEO, the brand’s social profile has been key to its growth.
“Hard Fizz is still an independent – that’s what makes this so remarkable,” said Tiller.
“This brand is built almost entirely on its social profile – it’s not just ‘Fish’ who’s involved, there’s his wife Chloe and fellow podcaster, Ellidy Pullin, surfers Laura Enever and Nikki Van Dijk; TV chef Hayden Quinn is in there, plus AFL star Rory Sloane… There’s millions and millions of followers between them; that’s a huge customer base.”
