Ex-Sainsbury’s CEO invests in hard seltzer brand
Former Sainsbury’s chief executive Justin King has made a ‘significant’ investment in hard seltzer brand Served.
Mr King, who led the supermarket giant between 2004 and 2014, has joined the board as a senior advisor.
Served was founded Dean and Ryan Ginsberg last year and has seen their hard seltzer brand take off in popularity.
The company was valued £13.6million after a funding round earlier this year.
Singer Ellie Goulding also invested in the company last month and is now a co-owner.
The size of the stake purchased by Mr King was not disclosed.
“Dean and Ryan have created a truly premium product which stands out in the crowded field of the hard seltzer category which is set to explode in the coming year,” he said.
Served’s drinks are made in Hertfordshire and is now stocked in more than 1,000 retailers nationwide including WHSmith, Selfridges, Harvey Nichols and Planet Organic.
Like what you read? metalpackager.com/subscribe