Shaka Tea has been acquired by King’s Hawaiian!
Our partner Shaka Tea, a beverage company based in Hawaii, has found a kindred spirit in King’s Hawaiian, a family-owned business with roots in Hawaii.
The details of this deal have not been shared, but Shaka Tea will continue to run independently, retaining all 21 staff members. King’s Hawaiian has been a big fan of Shaka since the beginning, with an investment in one of their previous funding rounds.
Elena Minton, a CFO of Stage 1 Financial, shared, “This transaction is a true result of the vision and hard work of the founders Bella and Harrison and the entire Shaka team. We at Stage 1 Financial are very proud to be a part of this amazing team. We are excited to continue partnering with Shaka and King’s Hawaiian. Congratulations!”
Shaka will continue operating out of Hilo, Hawaii. They have grown by triple digits over the last three years and are now in 8,000 stores with a goal of being in 20,000 stores before the end of 2022.
Read the full press release here