Onda Tequila Seltzer Primed For Further ExpansionJune 28, 2022
Onda Tequila Seltzer is angling for further growth this year after reaching 10,000 accounts across 31 states in 2021. The Tequila seltzer brand, co-founded by actress Shay Mitchell and chaired by industry veteran Jim Clerkin, has raised $12.5 million in a new round of funding, receiving backing from Aria Growth Partners and spirits investor Clayton Christopher, alongside other investors including fashion retailer Revolve, and unnamed celebrities.
The new round of funding, which also includes more cash from prior investor 25madison, comes as the brand approaches its two-year anniversary on the market. “We are up well over 100% in volume throughout the U.S. and up more than 200% in many of our top focus markets off of a strong six-figure depletions base,” co-founder and CEO Noah Gray told SND. The brand’s portfolio currently comes in 8 flavors, all at 5% and made with Blanco Tequila, fruit juice, and seltzer. “We have a robust innovation pipeline, including multiple new flavor and format options,” said Gray. “This includes a value-added holiday pack that we will debut this year and our third variety pack coming next spring.”
Onda’s early success has chiefly been in the local and national chain retail market, with the brand gaining placement in Publix, Total Wine, Trader Joe’s, Whole Foods, Walmart, Costco, Spec’s, and Binny’s, among others across the U.S. The Florida market has been especially fruitful for the brand, which has been ascending the RTD leaderboard in the Sunshine State.
“While our primary sales strategies will continue to be geared towards retail, we are excited about the visibility, trial, and brand-building opportunities in the on-premise,” said Gray. “We see the most opportunity in high-volume accounts where speed to service matters, especially during day drinking occasions.”—Shane EnglishSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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