Seattle, Nov. 5 - Cha Dao Tea, a Seattle-based producer of award-winning, fresh bottled teas, announced today that it has entered into a Strategic Partnership with BYB Brands, Inc., a North Carolina beverage brand development company.
In addition to an undisclosed amount of cash, BYB will provide Cha Dao with brand development expertise, access to its operational and supply chain experience and capabilities, logistical support and other services. Under terms of the deal, BYB Brands, a wholly-owned subsidiary of Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE), will receive a minority equity interest in the natural tea company.
Cha Dao was founded in 2006 by Ghim-Sim Chua. His vision was simple - to produce the freshest, best tasting teas possible. Cha Dao teas are handcrafted and freshly brewed in their own facility in Seattle. Unlike other brands, Cha Dao does not use concentrates and constantly chills their teas until they are purchased by the consumer, much like fresh juice or dairy. Every bottle is dated with a `best-by` date of a few weeks versus products in the category that generally have shelf lives of a year or more. "'Validation' is what this partnership represents," said Ghim-Sim Chua, founder and President of Cha Dao Tea. "BYB is part of one of the leading beverage companies in the world," continued Chua, "and they have the experience and skills to assist us get to the next level."
"We are very excited to be able to partner with Cha Dao," said Norm George, President of BYB and a long term veteran of the beverage business. "The ready-to-drink tea market is approaching $1.5 billion in revenue and growing rapidly," continued George, "and we think Cha Dao`s fresh approach can redefine the basis of consideration and purchase by consumers." "Cha Dao is a breakout product," he continued. "The market continues to move toward healthier products, and Cha Dao is positioned to capitalize on that trend," added George. "We also believe they have a solid commercialization strategy," said George. Cha Dao sales and marketing efforts are focused on their key markets of Seattle, Washington and Austin, Texas.
About Cha Dao Tea, Inc.
Based in Seattle, Washington, Cha Dao is committed to delivering "Distinctively Fresh Teas" with premium, all-natural bottled teas that are fresh, healthy and delicious.