BRANFORD, Conn. -- The Miami Bay Beverage Co. LLC has received a $2.5 million capital infusion from a syndicate of investors led by Vineyard Point Associates LLC. The capital will be used to accelerate the enhanced-water maker's performance, expand into new geographies and prepare the business for a larger capital raise later this year as it continues on its growth path.
Miami Bay Beverage produces Trimino protein-infused water with 7 grams of whey protein, B-complex vitamins, zero sugar and carbohydrates and only 28 calories. Trimino is available in four flavors.
"The infusion of capital by VPA and others will allow us to expand down the East Coast and through Virginia, where we're establishing a strong presence throughout ShopRite, Stop & Shop and Giant Supermarkets," said CEO Peter Dacey.
Trimino is currently available in more than 5,000 supermarkets, convenience stores, drug stores, fitness and other retailers including TOPS, Price Chopper, WinCo Foods, NOCO Express Convenience Stores, Market Street, Central Market, Brookshire's and in more than 700 7-Eleven stores in Texas, Florida and Chicago. Regional distribution will soon begin in Sam's Clubs, Winn Dixie, Walgreens, and Kroger.
VPA is one of Miami Bay Beverage's founding investors. "Their leadership and strong engagement has been a key element of developing the trimino brand," Dacey said. "In addition, they bring some interesting leverage from portfolio investments that will help accelerate our growth."
Bob Leary, managing director of VPA and Miami Bay Beverage's CMO, said, "Trimino is ... the market leader in the mainstream protein-water space, and its acceptance in the market from consumers, retailers and distributors has been amazing."
Vineyard Point Associates (VPA) is a boutique investment firm specializing in startups and smaller ongoing concerns.
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