Zeffer Cider set to launch second capital raise to accelerate impressive business growth
New Zealand’s largest independent, dedicated cider producer, Zeffer Cider Co. has gone from strength to strength in the
wake of a successful NZD$1.2million funding round last year - and is now seeking additional investment to capitalise on
plans for 2018 and beyond.
Since the raise in March 2017, the company successfully launched into the Chinese market, achieving an impressive
$365,000 in sales within its first full year, and has also established a new state-of-the art cidery in Hawke’s Bay with
capacity to produce over two million litres of cider per annum.
Overall, the company has grown sales by 70 percent in the last year – from NZD$1.6 million to NZD$2.8 million – managing
to exceed their FY18 forecast by over $140,000.
Zeffer has also recently enjoyed a number of awards successes – taking out the Champion title at the 2017 International
Cider Awards in London, as well as the Champion Cider in the two Cider categories at the 2018 New World Beer and Cider
Awards this week.
The company is now seeking an additional NZD$1.8 million in funding, based on a pre-investment valuation of NZD$8.26
million. Funds will be dedicated to helping the company further grow its footprint in the Chinese market, as well as
deliver on three clear strategic opportunities in order to sustainably grow to become an NZD$10 million+ revenue company
by 2021.
Josh Townsend, Chief Executive at Zeffer, says that with the international cider market currently expanding at an
incredibly rapid rate – forecasted to grow by up to US$5.5 billion dollars over the next five years – one of the major
opportunities for the company lies in overseas markets.
“We already export to nine countries around the world. China is by far our largest market, and that’s one of the export
markets we’re focusing our efforts for the next three years. This next funding round will be critical to helping us
double down on our Chinese export strategy, partnering closely with local distributors, and recruiting additional human
resources to drive these efforts – including a China Sales Manager to oversee our China sales team.
“At a local level, cider is already a $100million+ category and we want to help further grow the category while
capturing more market share, and we’ll be increasing human and marketing resources to achieve this. We are also opening
a new tap room at the official home of Zeffer in Hawke’s Bay in October this year. It’s a truly exciting junction in the
company’s growth story, and we’re looking forward to welcoming further Zeffer cider lovers as shareholders, to take part
in the journey,” says Townsend.
The capital raise will be going live at 9:00am on 1 June 2018, via Snowball Effect.
For more information on Zeffer Cider, visit www.zeffer.co.nz.
ENDS