Althea Group raises US$2.55M to accelerate growth of THC beverage unit Peak Processing
Capital raised to fund Peak Processing’s expansion, customer development, and new THC beverage manufacturing initiatives across Canada and the US.
AUSTRALIA – Althea Group Holdings Ltd, a leading FMCG company in THC beverages, has raised US$2.55 million via a share placement to support growth initiatives for its Canadian subsidiary, Peak Processing Solutions.
The placement involved approximately 141.7 million ordinary shares issued at US$0.018 each to sophisticated and professional investors in Australia. Taurus Capital Group managed the placement.
Proceeds will be allocated to targeted growth initiatives, customer development, and selected capital expenditure projects at Peak Processing, Althea’s wholly owned subsidiary and Canada’s market-leading THC beverage manufacturer.
Interim CEO Barry Katzman said the capital raise follows the completion of Althea Group’s strategic transformation. The company is focusing on expanding Peak Processing’s presence in regulated markets, including the US and Canada, leveraging its proprietary Envision Emulsion™ technology.
“In the US, our partnership with a new manufacturing site in Florida, combined with Peak’s Envision Emulsion facility, positions us to scale rapidly in a growing market,” Katzman stated.
Althea Group believes THC beverages are benefiting from strong demand trends such as direct-to-store distribution, the introduction of multi-packs, and rising consumer acceptance.
These factors are expected to boost Peak Processing’s revenue opportunities, supported by its diverse range of SKUs, beverage expertise, and long-term contracts with leading manufacturers.
Peak Processing operates a 9.0 million-can-per-year facility in Windsor, Ontario, and currently holds a 35% national market share in Canada’s THC beverage segment. The company has also produced more than 500,000 cans in the US and reported FY25 revenue of US$15.5 million.
With its capital-light expansion strategy into the US and favourable market conditions, Althea Group aims to solidify its position as a global leader in THC beverage.
Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
