Adina for Life, Inc., a San Francisco-based company focused on producing natural and organic beverages, completed a $14m round of equity financing.
The round was led by Dallas, TX-based CIC Partners, with participation from existing investors Sherbrooke Capital, Pacific Community Ventures, Good Capital, Seraph Capital, as well as many of Adina’s distributor partners.
The company will use the proceeds from the investment to bolster national distribution of its line of its flaghsip line of products, Adina Holistics™.
In conjunction with the financing, Roger Enrico, former Chairman and CEO of PepsiCo and Chairman of Dreamworks Animation SKG, and Michael Rawlings, managing partner at CIC Partners, will assume board positions with the company.
Adina’s last month named Norman E. Snyder as new President and Chief Operating Officer.