Midrand: AfricUpdate – News Desk
South Africa’s Pura Beverage Company has secured a R260 million investment as it continues to push into global markets, especially the United States. The group, which is headquartered in Cape Town an in the UK, is currently reshaping the non-alcoholic beverage market as consumers seek out ‘clean-label’ low-sugar sodas. The company has become a South African staple and is widely available nationwide in grocery retailers and restaurants. It has shown remarkable growth since its launch in 2017. It was voted product of the year for innovation for 2020 in the cold beverage category and the best-tasting non-alcoholic beverage for 2019.
Notably, the company and has made significant inroads in the United States, and now aims to use the R260 million investment to capture even more of the market. Pura’s has already recorded success in the US market, crossing $1 million in sales on its launch day, and attracting interest from American retailers, including the likes of Walmart, Target, Whole Foods, and Costco. In the past 12 months, US sales of beverages with 100% natural cane sugar have grown by more than 50% to over US$600 million in revenue.
The wider beverage industry is valued at around $1.46 trillion, and is expected to reach an estimated $2.1 trillion by 2030. This segment encompasses products such as carbonated soft drinks, bottled water, fruit juices, energy drinks, and functional beverages. Pura said that the injection of investment capital will grow the company’s international footprint and business, cementing its position as a brand capable of reshaping the market.
It said the funding will be directed toward securing top-tier talent, strengthening local, as well as global distribution networks, expanding its product portfolio, and accelerating marketing initiatives. The group entered the market in 2017 with its Pura Soda range, and quickly followed with a child-friendly Pura Kids range in 2021. In 2023, it launched the Pura Hydration range, taking on a highly competitive market featuring the likes of Powerage and Energade.
“Since entering the market in 2017, Pura company has continued to disrupt traditional beverage categories across global markets by offering natural, low-sugar, and preservative-free drinks that genuinely taste good for consumers, ultimately pioneering the reinvention of classic soda,” said Greig Jansen, CEO of Pura. “Consumers are becoming disillusioned with zero sugar products that rely on synthetic sweeteners or sugar substitutes. They want the real thing, but less of it.” A spokesperson for the unnamed global investment firm that injected the capital into Pura noted that the R260 million was a vote of confidence that the drinks company could lead a “soda revolution”, and would help the business reach its full potential.
Pura said the investment will be leveraged to accelerate its market penetration, brand building and marketing across the globe, and will provide the funds required to increase and support product listings across major retailers. This will be focused predominantly in the USA, but also other international territories. The drinks are available in 13 countries, globally. “Securing this investment is more than a business milestone, it’s a powerful endorsement of our brand, product, and the global opportunity ahead,” said Jansen. “We’ve built a brand with international appeal, rooted in product innovation and consumer insights, and timed perfectly with consumer demand. With this investment, we now have the ability to attract top talent, and build a dream team that will continue to deliver on our growing ambitions.”
