|
DAVIDsTEA Announces $14 Million (CAD) in Minority Financing Led by the Highland Consumer Fund
MONTREAL, Apr 10, 2012, 2012 (Canada NewsWire via COMTEX) --
DAVIDsTEA, a leading retailer of
loose leaf teas, today announced a $14 million (CAD) minority
investment led by the Highland Consumer Fund. The company was founded
by Herschel and David Segal in 2008. Its teas range from traditional to
exclusive blends and unique flavors, and products carefully sourced
from around the world. The company has rapidly grown to more than 75
stores across Canada and has also entered the U.S. with 2 stores in New
York City.
The Highland Consumer Fund will be joined in its financing round by Chip
Wilson, the founder & former CEO of Lululemon Athletica. Their
strategic investment in the business will be used to continue the
company's strong revenue gains and help fuel the growth of retail
operations across North America. As part of this, DAVIDsTEA will
establish a U.S. headquarters.
Herschel Segal will continue to serve as Chairman of DAVIDsTEA and will
be joined on the Board by David Segal, Jane Silverstone Segal, Sarah
Segal (now interim President) and Javier San Juan, President of L'Oreal
Canada. In addition, Chip Wilson and Tom Stemberg, Managing General
Partner at Highland and founder and former CEO of Staples, will also be
joining the Board of Directors. "DAVIDsTEA offers a strong brand,
exceptional products and compelling customer experience that is shared
with many of the other top retailers that I've been fortunate to work
with," said Tom Stemberg. "Both Chip and I look forward to a strong
partnership and sharing lessons learned."
About DAVIDsTEA
Founded in 2008, with the demand for tea on the rise, DAVIDsTEA has
grown from one store in downtown Toronto to more than 75 retail outlets
across North America. Headquartered in Montreal, Quebec, the company
offers more than 150 varieties of teas, including traditional straight
teas, as well as unique exclusive blends and limited edition seasonal
collections; DAVIDsTEA passionately develops premium teas with
ingredients sourced from around the world. The company is dedicated to
community involvement, in addition to a commitment to sustainable
practices. Follow DAVIDsTEA's latest developments at facebook.com/davidstea and twitter.com/davidstea.
About The Highland Consumer Fund
The Highland Consumer Fund specializes in consumer products, services and retail investment
opportunities in growth-focused companies with proven business models
operating in attractive markets. The Fund brings together an
investment team with extensive experience founding, growing, operating
and investing in successful consumer companies. It also offers
companies a unique value proposition through the hands-on guidance and
active involvement of its consumer domain experts. The Highland
Consumer Fund has invested in and worked to create such firms as City
Sports, Guitar Center, J.McLaughlin, Pharmaca Integrative Pharmacy and
Pinkberry. For more information, visit Highland's web site at www.hcp.com.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/April2012/10/c4139.html
SOURCE: DAVIDsTEA
SOURCE: MAISON BRISON - ENGLISH
Howard Tafler, CFO DavidsTea Inc. Tel : 514-739-0006 howard@davidstea.com
[ Back To SIP Trunking Home's Homepage ]
|
NEW Bring Your Own Device
(BYOD): HTML5 and Google's WebRTC are
transforming our industry: The disaggregation of the telecom industry has long
been talked about, while available solutions remain
vertically integrated in spite of a growing industry of
standards-based individual components...
NEW SSOA - SIP Service Oriented Architecture™:
Cloud and large enterprise communications
and collaboration infrastructure: This eBook introduces eZuce's SIP Service Oriented
Architecture (SSOA). SSOA is a 'carrier-class'
system that offers the demanding global enterprise
a modern built-for-the-cloud and highly
scalable...
NEW Benefits of Broadvox VAR Partner Program: We built our Partner Program to work for you. We understand that different
types of partners have different needs, and we don't play favorites. When
you partner with Broadvox, every member of our team stands behind you
and your customers 100%... 
What's New?
