KUALA LUMPUR: Loob Holdings Sdn Bhd, the owner of Tealive, has taken a strategic 35 per cent stake in market-leading kombucha brand WonderBrew as part of its plan to be the largest drinks portfolio company in Southeast Asia.
In a joint statement today, Loob and WonderBrew said the private deal for an undisclosed sum was completed within weeks of entering private equity fund Creador into Loob itself with a 30 per cent stake purchase.
WonderBrew, a home-grown lifestyle beverage brand that specialises in kombucha (fermented tea), is owned by Wonder Group Sdn Bhd.
Loob founder and chief executive officer Bryan Loo said this opportunity to take a strategic stake came at the right time as WonderBrew had consistently outperformed general market conditions, with sales having doubled in 2020 and again this year, despite the pandemic lockdown.
"We saw in the WonderBrew founders' Joseph Poh Wen Xian and Loke Boon Eng, the same flame of entrepreneurship that we have.
"Our entry is to take it regionally and accelerate its touchpoints for all channels," he said.
Besides that, he said there was already a lot of synergy for both teams in the research and development of new products, sales and marketing, and operations.
"The possibilities are exciting as the kombucha category is booming in this region with greater awareness and demand for natural foods and ingredients.
"Together, we can propel WonderBrew to greater heights in the region where we will drive mass consumption of kombucha across various channels," he added.
Wonder Group chief executive officer Joseph Poh said he was confident that WonderBrew kombucha would now be much more accessible to consumers everywhere, leveraging on Loob's vast experience in the beverage segment.
Poh said with Loob coming on board as a strategic investor at the right timing, the company was ready for the next level of growth with a more structured regional expansion plan.
Domestically, he said WonderBrew would also explore collaborative opportunities with Loob's various brands, especially Tealive.
They said plans are already afoot to accelerate the touchpoints for kombucha across all channels and increase production capacity five-fold.
Other than the physical locations in grocery stores, convenience stores, cafés, bakeries, restaurants, petrol stations, hotels and vending machines, WonderBrew is also available for online delivery via their official website and through GrabFood, Air Asia Food and ShopeeFood.