Eat Beyond invests in beverage company Daydream
Food In Canada
Eat Beyond Global Holdings, Inc., an investment issuer focused on the global plant-based and alternative food sector, invests in Daydream Drinks, Inc., an Ontario-based beverage company that has created Canada’s first sparkling water infused with hemp extracts and adaptogens.
Daydream’s hemp oil contains below 0.03 per cent CBD and zero THC, making Daydream a non-cannabis product.
Eat Beyond joins Global Edge Investments, a Toronto-based investment and management company, and other industry veterans, such as Jorn Socquet, a 14-year executive from ABinBEV, as an early stage investor in Daydream.
“When creating Daydream, our vision was based on the fundamental principle that there was a gap in the market for something that wasn’t coffee or an energy drink, but instead a healthy, plant-based alternative, with no caffeine, sugar or artificial sweeteners,” said Alex Simonelli, CEO, Daydream. “Adaptogens help the body tap into natural energy reserves to provide focus and clarity. They are also well known for balancing stress levels by supporting the endocrine system, and keeping inflammation in check.”
According to a press release, Daydream’s year-over-year revenue jumped 550 per cent in 2020, and it is on pace to reach more than 1000 stores across Canada by the end of 2021, a roughly 2,300 per cent increase from its debut year.
“Eat Beyond welcomes its first beverage company to our ever-growing food technology portfolio. We like the idea that not only can people eat better, but [also] drink better too,” said Eat Beyond CEO Patrick Morris.