Ten To One Rum, co-owned by American singer Ciara, has received a US$1 million investment from private equity firm InvestBev.
The strategic partnership between Ten To One Rum and InvestBev aims to take the brand to new heights in the ultra-premium Caribbean rum category.
Ten to One Rum founder Marc Farrell with co-owner Ciara
Ten To One Rum was founded in 2019 by entrepreneur and former Starbucks senior vice-president, Marc Farrell. In October 2021, R&B singer-songwriter Ciara joined the rum brand as an investor, co-owner, and director.
The collaboration with InvestBev will aim to bring the brand to new markets, meet growing demand, and establish Ten To One as a premium market leader within the rum category.
InvestBev claims to be the largest private equity firm in the adult beverage sector and will join forces with Diageo-backed incubator Pronghorn to provide support to the brand’s team. Pronghorn had announced an investment in Ten To One in August last year. According to IWSR Drinks Market Analysis data cited by Pronghorn, the US market for super-premium-plus rum brands is expected to have a compound annual growth rate of 12.6% from 2021 to 2026, and will grow two times faster than the total spirits industry over the next five years.
Brian Rosen, founder of InvestBev Group, said, “Marc and his team have built an incredible brand for what we feel is the next hot category. Data shows that rum is gaining share monthly, and we are excited to support Ten To One in their growth journey.” Farrell added, “We’ve always sought to identify great investors who not only have resonance with our aspirations for Ten To One, but also have the ability to directly impact those ambitions to build something iconic with the brand. Brian and the InvestBev team fit the bill on both fronts, and so we’re thrilled to welcome them to the Ten To One family.”
Overall, the investment from InvestBev is expected to help Ten To One Rum expand its reach and establish itself as a premium market leader within the rum category.
