Spadel Backs Living Things with £100m Revenue Goal; Coke Viewed as Low-Risk Dividend Play
Belgium’s Spadel invested undisclosed sums via The Source Ventures alongside former Coca-Cola executive Kris Robbens and Fulfil Nutrition founder Barry Connolly in UK prebiotic-soda startup Living Things, which operates in over a dozen markets and aims for £100m ($132.8m) revenue medium-term. Analysts rate Coca-Cola as a defensive stock with strong business momentum, stable valuation risk and an attractive low-end dividend yield.
1. Spadel’s Investment in Living Things
Spadel, the Belgium-based water group, invested undisclosed amounts in UK prebiotic-soda startup Living Things through its VC arm The Source Ventures alongside former Coca-Cola executive Kris Robbens and Fulfil Nutrition founder Barry Connolly. Previous backers include BrewDog founder James Watt, and Living Things will use the new funds to significantly uplift marketing and expand its team.
2. Living Things’ Growth Ambitions
Founded in 2023, Living Things sells prebiotic sodas in over a dozen markets—including the UK, Ireland, the Netherlands, Switzerland and the Czech Republic—and continues rapid market testing. Co-founder Ben Vear has set a medium-term target of at least £100m ($132.8m) in revenue, positioning the brand at the forefront of the global gut-health soda boom.
3. Coca-Cola’s Defensive Stock Profile
Coca-Cola is viewed as a low-risk, defensive stock after several years of strong organic business momentum, unchanged valuation risk and a modest but attractive dividend yield for long-term investors. Its reliable cash flows and steady performance underpin its appeal in volatile markets.