Spadel : The Source Ventures by Spadel takes a stake in Dripl, a Belgian start-up aiming to revolutionize the soda industry
August 24, 2023 at 05:53 am EDT
The Source has just completed its second investment of 2023. Having already taken a stake in Qallo last April, Spadel's venture capital fund has today announced its investment in another promising Belgian start-up: Dripl, founded in2020by Colin Deblonde and Lucas Moreau.The impact start-upofferscompanies a healthier, more sustainable alternative to traditionalsodas, thanks to a machine that produces natural, low-calorie, low-sugar sodas on site, without disposable packaging. With a market size of 2.1 billion euros in the Western European office space alone, the growth potential of this new type of dispenser is huge. This is what prompted The Source to take an interest in Dripl. This investment fits perfectly with the Spadel fund's objective of acquiring stakes in promising start-ups in the hydration sector and helping them to grow through strategic and financial support.
Spadel SA specializes in the production and marketing of soft drinks. The group also operates a spa (Thermes de Spa). The group's activity is organized essentially around two product families:
- natural mineral water: the largest mineral water producer in Benelux with brands notably including Spa Marie-Henriette, Spa Reine, Spa Barisart, Bru®, Devin, Wattwiller and Carola;
- lemonades, fruit syrups and flavored waters (brands Spa® Fruit, Spa® Duo and Spa® Touch).
At the end of 2022, the group had 5 production sites located in Belgium (2), France (2) and Bulgaria.
Net sales are distributed geographically as follows: Belgium/the Netherlands/Luxembourg (67.7%), Bulgaria (21.2%) and other (11.1%).