Steaz continues growth, appoints new management
The Healthy Beverage Company, owner of Steaz ready-to-drink tea brand, has reported a 38% increase in sales for the first quarter of this year compared to the same period in 2009. The company also announced the appointment of Jim DePietro, a former executive from Unilever and Pepsi Lipton Partnership, as CEO and Steven Kessler as President. According to DePietro, Steaz's growth is a result of increased consumer demand for the brand, distribution gains into strategic grocery accounts and successful targeted direct-store-delivery expansion in Southern California. The company has also received a further cash injection from its current investment group led by Switzerland-based Inventages Venture Capital.