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Hard Fizz raises $2.5 million as it enters new retail channels

(Source: Supplied)

Alcoholic beverages brand Hard Fizz has raised $2.5 million aimed to capitalise on market demand in the newly conquered Coles Liquor and Endeavour Drinks Group retail channels.

The funding will also support brand awareness initiatives such as the promotional partnership with global golf tour, LIV Golf.

Tom Paton of Conargo Capital led the investment. Billionaire gaming entrepreneur, Laurence Escalante, also participated through his family office, Lance East Office.

Paton’s background includes working with with influencer-led brands in the food and beverage sector, previously selling his co-founded brand Keep it Cleaner to Openway Food Co.

Recently, Paton launched health food brand Simply Wholesome Pantry.

Meanwhile, Lance East has invested in several fast-moving consumer goods companies including Bae Juice, alongside gaming companies and CarExpert.

FMCG advisory company Ranged acted as the lead advisor on the transaction, marking its first successful capital raise process completion under its newly established corporate advisory arm.

“Looking ahead, Ranged has a strong portfolio of disruptive FMCG brands that we anticipate will
follow suit and be looking to raise capital over the next 12 months,” said Joseph Green, MD for advisory at Ranged.

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