Mr. 305 is investing in the 727 in a deal that merges two entrepreneurial Florida brands: One that's already a powerhouse and another that's on the rise.
Rapper Armando Christian Perez — aka Pitbull and Mr. Worldwide — has taken a significant equity stake in Made Coffee, which produces and cans cold brew coffee in Clearwater.
Perez, who grew up in Miami, is now a co-owner and the lead investor in a seed round of funding, said Chris Dowd, a founder and partner in Made. Founded in 2015, its signature teal-and-ecru colored cans are now sold in all Publix Super Markets Inc. stores throughout Florida.
“Made Coffee is a Florida-based independent enterprise and has taken impressive short steps toward building its long-term vision,” Perez said in a statement. “After evaluating its operations, it became clear that the founders are visionaries and that I wanted to be a part of their journey. The brewing process and marketing talent, the management team’s business acumen and their array of products are impressive assets that position the company for success in pursuing its aggressive growth and revenue objectives.”
Terms of the deal, which was officially signed in March, were not disclosed. The money, Dowd said, will be used for further expansion — Made wants a larger retail presence, with a goal of eventually landing on the shelves of all 1,200-plus Publix stores and becoming the dominant cold brew brand in the Southeastern U.S. The company also sells coffee beans and its cold brew via its own website, and a subscription service is in the works.
Perez's involvement in the company began two years ago, during an informal brainstorming session with Dowd, business partner Scott Dobbins, and Made co-founders Mike Rideout and Taylor Prater. With his Florida ties, the Grammy Award-winning Perez was at the top of their list of potential investors.
Dobbins mentioned that to a colleague over the summer of 2018 — a colleague he didn't know had ties to Perez. Perez, it turned out, was looking to invest in a coffee company. Within weeks, he and Dowd were meeting with Perez in Miami.
Perez has not yet been to the company's home base in Clearwater.
"He's obviously got reach with the brand Pitbull, but his personal story and philosophy align very closely to our philosophy," Dobbins said. "He’s self made, came from humble beginnings and has bootstrapped his way to the position he holds today, and Made philosophically is focused on that self-made person."
It's yet to be determined if Perez will use the Pitbull platform to promote Made.
"While his reach and Rolodex and celebrity is certainly important, his business acumen and advisory have already proven valuable to Made," Dobbins said.
