LAGO backs Slate with strategic financing facility

LAGO completed a strategic financing facility for Slate, the protein drink brand, as the Chicago-based investor looks to support the company’s next phase of growth. The deal comes as Slate expands its retail and e-commerce presence and pushes deeper into the fast-growing functional beverage market.

Why it matters: - Slate is using new capital to support expansion in the competitive protein drink category. - The financing underscores investor interest in better-for-you beverages tied to protein, convenience and functional nutrition. - Slate has built distribution across retail and e-commerce while posting triple-digit average annual growth since launch.

What happened: - LAGO completed a strategic financing facility for Slate. - The transaction supports Slate’s next phase of expansion. - Slate launched in 2019. - The brand started with three chocolate milk drinks and has since added new flavors and product lines. - Slate sells high-protein, lactose-free, ultra-filtered milkshakes and coffees.

The details: - Slate’s product lineup includes nutrition shakes and gluten-free cookies. - The products contain no added sugar. - Slate says the products are 100% plastic neutral. - The drinks are formulated with essential vitamins and electrolytes. - Slate’s products are designed to aid muscle recovery, strength-building and energy maintenance. - The milk is ultra-filtered to remove lactose sugars and some water, which concentrates milk proteins. - Slate uses natural ingredients including allulose and stevia. - Flavor options include classic chocolate, dark chocolate, french vanilla, caramel latte, vanilla latte and mocha latte. - Slate is a Certified Plastic Neutral company. - All drinks are packaged in 100% recyclable aluminum cans. - Slate’s products are available directly through the company’s website and at select retailers including Target, Whole Foods and Walmart. - LAGO is a Chicago-based alternative investment platform focused on the lower middle market. - LAGO has served as a financing partner to more than 130 companies across sectors. - LAGO provides capital for working capital, strategic growth initiatives, liquidity solutions, recaps and refinancings. - LAGO’s website is more information. - LAGO also maintains a LinkedIn presence at the company’s LinkedIn page. - Slate’s website is the company’s website. - Slate also maintains social accounts on Facebook, Instagram and TikTok.

Between the lines: - LAGO framed the deal as a fit for durable demand in fitness and functional beverages. - LAGO pointed to growing consumer adoption of GLP-1 therapies as one factor boosting demand for convenient protein products. - Slate is positioning itself as a sustainability-minded brand alongside product innovation. - Slate says testimonials from professional athletes and fitness experts have helped build its following.

What's next: - Slate plans to use the facility to continue scaling its business. - LAGO said it expects to remain a long-term partner as Slate moves into its next stage of growth. - Slate is likely to keep expanding within retail and e-commerce as the brand broadens distribution.

The bottom line: - The financing gives Slate fresh support as it tries to grow from fast-rising protein brand to larger functional beverage player.