07 Mar Red Door Capital Partners makes its third entrance into the beverage market with its investment in DrnxMyth, and its first-of-its kind fresh bottled cocktail brand and patented IP
March 7th, 2023 (SALT LAKE CITY, UTAH) – Red Door Capital Partners, LLC, an independent private equity firm, is proud to announce their investment, with support from their network of high-net-worth individuals and family offices, in DrnxMyth, a product and technology of In Spirit Group, Inc. https://drnxmyth.com. Red Door has also been appointed a seat on the Board of Directors.
Co-founders Lawrence Cisneros and Brandon Schwartz have developed a proprietary and patented fresh-bottling technology to mix fresh juices with alcohol creating a new super-premium category of “fresh” in the ready-to-drink (RTD) cocktail category. Having proven the demand for the product and technology via its eCommerce channel, DrnxMyth is now focusing on manufacturing in the U.S. and scaling for its national retail distribution plan.
“We are very excited about this segment within the beverage industry” said Richard Wolpow, Managing Director of Red Door Capital Partners. “We have never seen the combination of product and patented technologies create such a level of interest, it truly is a game changer in the ready-to-drink alcohol category. The Series A Round was led by one of the nations’ leading beverage venture firms, with co-investments from other recognized names in the space such as: Goat Rodeo Capital, a venture fund focused on opportunities in alcoholic beverages, and 99 Proof, Doehler Ventures, Spiral Sun Ventures, and Vamos Ventures. Red Door is proud to invest side-by-side with them all. We also welcome a new group of family office investors through our relationship with FORCE Family Office, I would specifically like to acknowledge and thank Rubicon Wealth Management of Blue Bell. PA,” Wolpow concluded.
Commenting on Red Door’s investment into DrnxMyth’s Series A Round, Lawrence Cisneros, CEO, “We are thrilled to have Red Door join our team as we continue to scale up distribution and drive retail growth. Their confidence in our company and intellectual property means a great deal to us, and we are grateful for their support as we continue to innovate and bring our products to new markets so people everywhere can have the best tasting bottled cocktails,” Cisneros concluded.
About Red Door Capital Partners LLC
The Red Door team is a team of industry experts from private equity operations, investment, wealth management, and legal services, that have joined together to identify, invest in, and manage private equity transactions. Many Red Door opportunities are investing side-by-side with institutional funds and family offices with terms and safeguards in place typically only provided to institutional investors. Red Door partners with founders and entrepreneurs that seek real capital partners to create collaborative relationships, deploy strategic oversight, implement governance and professionalize operations – all to ensure our family of investors are protected and prepared for a successful exit transaction. For more information on Red Door and its latest transactions visit www.reddoorcp.com or contact us at firstname.lastname@example.org
DrnxMyth, known for its patented bottle technology that allows for the creation of fresh bottled cocktails, has experienced rapid growth over the past three years. Led by Lawrence Cisneros, a former attorney and influencer in the LA Latino community who turned to alcohol entrepreneurship, the company has used its proprietary twist-to-mix bottle technology that employs high-pressure technology to stabilize cold-pressed juice for nine months without heat pasteurization or preservatives. As a result, this now-proven cocktail concept has generated over $6.5 million in revenue. With an 11% compound annual growth rate propelling forward the RTD category, DrnxMyth is poised to become the leader in the ultra-premium RTD segment, which is growing at 600% year-over-year.
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