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Celsius to Roll Out in Speedway C-Stores
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Celsius to Roll Out in Speedway C-Stores

Functional energy drink has new investors,

energy drink

Photograph courtesy of Celsius Holdings Inc.

BOCA RATON, Fla. — Celsius Holdings Inc., maker of energy fitness drink Celsius, is expanding into Speedway convenience stores.

The initial rollout will include two SKUs across 2,700 stores starting in the fourth quarter of this year. Celsius Holdings anticipates a material actual cash value increase to more than 15% once the rollout starts. More than 90% of participating Speedway stores will be serviced by direct-store delivery distribution partners, Celsius Holdings said.

The Boca Raton, Fla.-based beverage company also entered into an agreement for a direct private investment of $22 million with two unnamed investors: a major Asian private equity firm and a major global institutional investor, the company said. The company expects the deal to close on Aug. 25.

The moves will help reinforce the company’s momentum as it continues to capitalize on global health and wellness trends, said John Fieldly, Celsius Holdings president and CEO.

“The injection of funds will allow us to eliminate our outstanding bonds incurred in connection with our October 2019 acquisition of Func Food Group Oyj, which bonds are due in October 2020, and provide working capital enabling Celsius to maximize the significant growth opportunities in both domestic and global markets,” Fieldly said.

In the placement transaction, the company will sell about 1.4 million shares of common stock. Various affiliates of Celsius, including six directors and CD Financial LLC–an entity owned by Celsius Holdings’ largest shareholder Carl DeSantis–will sell an aggregate of more than 1.3 million shares of common stocks. The CD Financial LLC sale represents about 3% of DeSantis’ holdings and the affiliate sales represent a minority divestiture from the company’s long-term strategic investment partners to facilitate the investment.

Celsius is a functional energy drink that has zero sugar, no preservatives, no high fructose corn syrup and is non-GMO and is made with no artificial flavors or colors. It is sold nationally at Target, CVS, 7-Eleven and more stores.

See Also

Marathon Petroleum Corp. is a leading, integrated, downstream energy company based in Findlay, Ohio. Its Speedway subsidiary, based in Enon, Ohio, is the third-largest c-store chain in the United States with 3,900 c-stores. Marathon Petroleum recently entered a definitive agreement to sell its Speedway c-store chain to Irving, Texas-based 7-Eleven Inc., a wholly owned, indirect subsidiary of Seven & i Holdings Co. Ltd., Tokyo.

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