Table of Contents
- Crystal Palace footballer Eberechi Eze has also become an investor in Virtue
A fast-growing energy drinks brand has appointed BrewDog co-founder James Watt as a “strategic advisor” after receiving investment from the Scottish businessman.
Virtue Drinks revealed that Watt, who stepped down as chief executive of the brewer earlier this year, was an angel investor in its recent £2m fundraising round.
As a result, he will advise its founder and CEO, Rahi Daneshmand, on “how best to scale the business globally.”
Crystal Palace footballer Eberechi Eze also participated in the funding round and will be “actively involved” in its marketing strategy, Virtue said.
Watt and Eze join former Manchester United centre-back and England international Chris Smalling, who invested a six-figure sum in Virtue three years ago.
Daneshmand said Watt and Eze’s “belief in our vision and commitment to our growth emphasizes the positive impact we plan to achieve together.”
Hire: Virtue Drinks has appointed BrewDog co-founder James Watt as ‘strategic advisor’
Founded in 2016, Virtue creates energy drinks using yerba mate, a plant made from dried holly leaves high in caffeine and antioxidants.
The company’s drinks are available in three varieties: tropical, peach and raspberry, and strawberry and lime, and are sold in 20 territories.
People can buy their products at major supermarket chains such as Morrisons, Ocado and Waitrose, as well as Motor Fuels Group, Britain’s largest service station operator.
Virtue claims to be the UK’s fastest-selling ‘clean’ energy drink as its distribution has doubled on average in each of the last two years.
Watt said that “I rarely see a beverage brand that really excites me.” At Virtue, I found an amazing product run by a brilliant entrepreneur.
“I found Virtue first and foremost as a consumer, and I’m thrilled to be able to help them on their growth journey.”
The Aberdeenshire-born businessman stepped down as BrewDog boss over the summer, although he remains on the board as a non-executive director.
Since founding the company with his school friend Martin Dickie in 2007, BrewDog has grown to become Britain’s largest craft brewery, with over 120 pubs and 2,500 employees.
However, the company has been hit by controversy in recent years regarding its green credentials, its decision to stop paying new workers the so-called “real living wage” and Watt’s behavior towards employees.
In an open letter published in 2021, some former employees who called themselves Punks with Purpose alleged that Watt oversaw a “rotten culture” that left some workers “exhausted, scared and miserable.” Watt and BrewDog apologized following the allegations.
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free Fund Trading and Investment Ideas
interactive inverter
interactive inverter
Fixed fee investing from £4.99 per month
sax
sax
Get £200 back in trading fees
Trade 212
Trade 212
Free trading and no account commission
Affiliate links: If you purchase a This is Money product you may earn a commission. These offers are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence.