Apr 16, 2024 - News

Waterloo faces big growth decision

A Waterloo water van in downtown Austin in 2022.

A Waterloo water van in downtown Austin in 2022. Photo: Hutton Supancic/Getty Images for SXSW

Austin-based sparkling water brand Waterloo's CEO tells Axios exclusively his company is trying to decide whether to scale the business on its own or sell — or develop more direct-store delivery partnerships with retailers.

Why it matters: Waterloo is part of a club of scaled sparkling water startups that could attract the interest of acquirers.

  • Now the company, founded in 2017, is at a crossroads familiar to growing brands.

What they're saying: There's going "to be an inflection point in the not-too-distant future," CEO Jason Shiver says.

State of play: Competing against rivals like Spindrift and Liquid Death, Waterloo's sales are north of $200 million and the company is approaching profitability, Shiver says.

The big picture: Increasingly, health-conscious consumers are opting for zero-calorie alternatives like flavored sparkling water.

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