Viee, a beverage company specialising in plant-based drinks, has received an investment from consumer-focused firm L Catterton.
L Catterton manages approximately $35 billion of equity capital across three multi-product platforms. Since its establishment in 1989, it has made over 275 investments in consumer brands across the globe.
The firm will partner with Viee, aiming to solidify the brand’s profile in its home region of Sichuan and Chongqing, China. It will also seek to widen its presence in adjacent provinces and expand across the rest of the country.
Viee’s range of beverages are commonly consumed as effective spice and grease ‘neutralisers,’ positioned as ‘must-have’ drinks to pair with spicy dishes that characterise southwestern China’s cuisine.
Its portfolio includes plant-based beverages with vitamin E and Bifidus factor, made predominantly from peanuts and walnuts, as well as a range of oat and soya milk offerings in flavours such as ginger, jasmine, osmanthus, pine nut and sesame. The range is free from preservatives and other additives.
Scott Chen, a managing partner in the Asia fund of L Catterton, commented: “Viee has a large and growing base of loyal customers in a sizable and resilient category in southwestern China. The company has not only developed drinks which have become fairly ubiquitous in the region, but also established a vertically integrated supply chain and wide network of distributors with whom it has longstanding relationships.”
Chen added that Viee’s earnings have been on an upward trend and hit a record high in 2023, attesting to enduring consumer demand through market cycles.
Yawen Guo, Viee's founder representative, said: “L Catterton has a keen understanding of our industry and business. We are impressed by the comprehensive value creation plan that the firm has devised for Viee and are excited about executing it in partnership with them.”
