Zeffer Cider surpasses target once again

Wednesday 27th June, 2018

Zeffer Cider surpasses target once again with successful $2.4 million capital raise

New Zealand’s largest independent, dedicated cider producer, Zeffer Cider Co. has successfully completed its second capital raise via Snowball Effect, closing at a total of $2.4 million.

With an oversubscribed offer, Zeffer now welcomes 220 new investors on board, resulting in a total pool of 359 investors. One major strategic partner and investor was instrumental in helping surpass the original target by investing just over $1 million for a 10 per cent stake in the cider company.

This marks Zeffer’s second successful capital raise via online platform Snowball Effect. Their first was last year in March, where they raised a total of $1.2 million to launch into the Chinese market and establish a new state-of-the-art cidery in Hawke’s Bay.

The new funds raised will be dedicated towards helping the company further grow its footprint in the Chinese market, the cider category locally in New Zealand, and to propel Zeffer towards becoming a NZD$10 million+ revenue company by 2021.

Josh Townsend, Chief Executive at Zeffer, says that the capital raise was critical for company’s next steps, and is extremely pleased with the level of public interest it prompted.

“We have received overwhelming support from both our existing and new shareholders, who we are excited to welcome into the Zeffer family. They’ve joined us at a really significant time in terms of our growth trajectory.

“At a local level, we will be focusing our efforts towards advancing the already $100million+ cider category and winning more market share through the addition of new team members and additional marketing resources.

“Our whole team is ecstatic about this new milestone and really reinforces that we’re doing things right and should be proud of what we’re crafting. Plans are already underway for the opening of our new cidery door and tap room in October this year, and we can’t wait to reveal it to the public,” concludes Josh.

Simeon Burnett, CEO and co-founder of Snowball Effect, is also delighted with the result.

“Zeffer’s first capital raise last year was an incredible success story and they went on from this raise to achieve what they set out to do and hit the goals they had set out for themselves. We’re thrilled to support Zeffer achieve its target once again and look forward seeing them continue to realise their goals with this new capital.”

For more information on Zeffer Cider, visit www.zeffer.co.nz.

ENDS

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