Icelandic Glacial announces $66 million of new financing

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LOS ANGELES — Icelandic Glacial, the naturally alkaline, super-premium spring water from Iceland, announced Wednesday 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, cofounder 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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