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First Beverage Group
Bill Anderson founded First Beverage Group in 2011 after a 30-year career at PepsiCo, culminating as CEO of its Americas Beverages division.
First Beverage Group
Bill Anderson founded First Beverage Group in 2011 after a 30-year career at PepsiCo, culminating as CEO of its Americas Beverages division. The family office was structured to leverage Anderson's deep industry expertise, investing only in beverage-related assets — a focus that distinguishes it from diversified family offices. First Beverage targets control and minority stakes in mid-market beverage companies, including premium spirits, craft beer, non-alcoholic functional drinks, and beverage infrastructure. Its portfolio spans over 50 companies, with confirmed positions in Bai Brands (sold to Dr Pepper Snapple in 2016 for $1.7B), Deep Eddy Vodka (acquired by Heaven Hill in 2015), and Zevia (NYSE: ZVIA). The firm also invests in packaging, logistics, and real estate for beverage production, with a geographic footprint across the US, Canada, and select international markets. The office operates from ten offices across North America, including Los Angeles (HQ), Menlo Park, New York, Vancouver, Atlanta, and San Francisco. Since inception, First Beverage has deployed over $1.5 billion in equity capital (per public reports, 2023). In August 2023, the firm closed First Beverage Growth Partners III at $235 million, a dedicated growth-equity fund for early-stage beverage brands. The team includes former beverage executives and investment professionals, though the total headcount remains undisclosed. First Beverage's structural differentiator is its single-sector focus: the firm acts as a sector-specialist family office rather than a diversified allocator. This model allows deep sourcing relationships across beverage CPG, real estate, and infrastructure — a network that includes major retailers, distributors, and contract manufacturers. The office also manages a philanthropic arm, the Anderson Family Foundation, which is structurally separate from the investment vehicle."
General information
Firm type
Single Family Office
Year founded
2011
AUM
$500M – $1B (Altss estimate)
Location
Region
North America
Country
United States
City
Los Angeles
Corporate office
Los Angeles, CA, United States
Additional offices
Menlo Park · Mountain View · Vancouver · New York · Camden · Atlanta · San Francisco · Santa Monica · Ft. Lauderdale
Principals
Bill Anderson
Founder & CEO
Kurt Zobler
Managing Director
Sector focus
Frequently asked questions
Who runs investment decisions at First Beverage Group?
Bill Anderson, founder and CEO, leads all investment decisions. He is a former CEO of PepsiCo Americas Beverages with three decades of beverage industry experience. Managing Director Kurt Zobler and a team of former beverage executives support deal execution and portfolio management.
How does First Beverage Group source proprietary deal flow?
The firm draws on Anderson's industry relationships across beverage CPG, retail, distribution, and contract manufacturing. Its sector specialization creates a reputation that attracts off-market deal opportunities, particularly in premium spirits, functional beverages, and craft beer. The office often co-invests with strategic buyers like beverage holding companies.
Is First Beverage structured as a single family office or does it operate more like a venture firm?
First Beverage operates as a single-family office with a dedicated investment team. It also raises external capital through vehicles like First Beverage Growth Partners III, a growth-equity fund that closed at $235 million in August 2023. This hybrid structure allows the family office to scale its deployment while retaining the proprietary network and long-term horizon of a single-family office.
What investment stages does First Beverage Group target?
The firm targets control and minority investments in middle-market beverage companies across stages: established brands generating $10M+ in revenue, growth-stage functional beverage startups, and infrastructure assets like production facilities and distribution networks. It avoids early-stage venture and pre-revenue companies.
Which sectors does First Beverage explicitly avoid?
First Beverage invests exclusively in the beverage industry and its adjacent infrastructure. It does not invest in technology, healthcare, financial services, or any sector outside the beverage value chain. This excludes all non-beverage CPG categories like snack foods, pet care, and household products.
Does First Beverage participate in fund commitments or only direct deals?
The firm primarily makes direct investments in beverage companies and infrastructure assets. It also commits capital to specialized beverage-focused vehicles, including its own growth-equity funds. Co-investments alongside strategic buyers, family offices, and private equity firms are common, particularly in larger buyouts or roll-up strategies.
How is First Beverage related to other entities founded by Bill Anderson?
Bill Anderson also founded the Anderson Family Foundation, a philanthropic entity focused on education and environmental sustainability. The foundation is structurally separate from First Beverage Group's investment activities. Anderson has not launched any other beverage-focused investment vehicles outside of First Beverage Group.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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