Fort Capital Partners is pleased to announce the closing of a placement of common shares of FreshTAP Logistics Inc. (FTL) with Lyra Growth Partners. The investment represents a minority interest in FTL, and provides funding for the continued growth of the company. Terms of the offering were not disclosed.
FTL operates two distinct but complementary and integrated business units. Under the Direct Tap name, FTL provides cold storage, dry storage, cleaning, administration and delivery of kegs, cases and bottles for the craft beer, cider and wine industries in BC. Direct Tap also offers keg rental services and a proprietary ordering, tracking and payment software that facilitates the alcoholic beverage ordering process for the hospitality industry.
Under the FreshTAP name, FTL provides wine kegging and distribution services for the wine industry in British Columbia and the Prairies. Bulk wine is shipped to FTL’s facilities from partner wineries, where FTL repackages product into 19.5L stainless steel kegs. The kegged wine is served as “wine-on-tap” in restaurants and bars, providing the opportunity to offer customers increased selection of wines by the glass while reducing spoilage, breakage and waste.
Fort Capital acted as agent to FreshTAP with respect to the placement of the common shares.
FreshTAP Logistics is based in Vancouver, BC. Founded in 2011, it has quickly emerged as a disruptive distributor of craft beverages in BC and an innovator in the Canadian wine-on-tap market. The popularity of both craft beverages and wine-on-tap are exploding, fueled by growing consumer demand for quality and selection. FreshTAP provides critical keg and distribution services that bridge the needs of beverage producers and the restaurant and hospitality industries.
Lyra Growth Partners is a private investment fund founded in 2015 by Charles Chang following his sale of Vega Foods to WhiteWave Foods. Lyra provides smart private capital and brand-savvy coaching to emerging consumer brands looking to accelerate growth and maximize value.
Fort Capital Inc. is an investment bank that works with public and private companies in Canada. The firm draws from collective capital markets experience to provide its clients with proven, accessible and independent investment banking advice and transaction execution. For more information, visit fortcapital.ca.