Investment includes a $35 million senior facility from funds managed by BlackRock’s US Private Credit team
LOS ANGELES, CA (August 21, 2019) - Icelandic Glacial™, the naturally alkaline, super-premium spring water from Iceland, announced today that it has received $35 million in funding from funds managed by BlackRock’s US Private Credit team and has issued $31 million in new equity to new and existing investors in order to provide a platform for its continued growth in the USA and other markets.
“We are delighted to announce $35 million of funding from funds managed by BlackRock, one of the world’s leading investment institutions,” commented Jon Olafsson, co-founder and Chairman of Icelandic Glacial. “Their investment in our company substantiates the progress we have made in recent years to become one of the leading premium water brands in the world.”
Renowned for its exceptional purity, Icelandic Glacial is bottled at the source from the legendary Ölfus Spring in Iceland, providing customers with the highest level quality of natural spring water. The company delivers the world’s first CarbonNeutral® bottled water with a net-zero carbon footprint and has a naturally occurring alkaline pH level of 8.4, providing a clean fresh taste with the perfect healthy balance for the body.
“We are very excited to invest in Icelandic Glacial,” said Dan Worrell, Managing Director at BlackRock US Private Credit who has joined the Board of Icelandic Glacial, “We have been watching the development of the brand for some time and are excited about our role in helping fund the further growth of Icelandic Glacial in the USA and throughout the world.”
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About Icelandic Glacial™
Icelandic Glacial is the super-premium natural spring water, bottled at the source from Iceland’s legendary Ölfus Spring, which was formed more than 5,000 years ago and is shielded from pollution by an impenetrable barrier of lava rock. The spring produces water so pure that nothing is added or taken away. As a result, Icelandic Glacial possesses exceptional balance featuring a naturally low mineral content and a naturally alkaline pH of 8.4. Icelandic Glacial is further distinguished as the world’s first certified carbon neutral natural spring bottled water for product and operation. Icelandic Glacial uses 100% natural green energy to fuel its production delivering a premium bottled water to discerning consumers around the world while maintaining a “net zero” carbon footprint.
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