TSG Consumer Partners, a leading private equity firm, announced that its partner company, Nuun, a hydration supplement brand, has entered into an agreement to be acquired by Nestlé Health Science. Terms of the transaction were not disclosed.
Founded in Seattle, Nuun is a provider of healthy sports hydration that has built a loyal following of athletes and fitness enthusiasts during the past 16 years. Having pioneered the separation of electrolyte replacement from carbohydrates, Nuun’s low-sugar electrolyte tablet then revolutionized the sports beverage market, according to the company. During the past several years, Nuun has expanded its product portfolio with Immunity, Rest, Energy and Instant products for everyday hydration and endurance hydration.
“Over the past few years, our partnership with TSG has helped accelerate our mission to enhance the lives of millions of consumers who increasingly seek healthy fitness solutions,” said Kevin Rutherford, CEO of Nuun, in a statement. “TSG’s marketing expertise and set of resources have helped drive our expansion beyond our core fitness enthusiast market and solidify Nuun as a household name brand. We thank TSG for their support of our mission and culture and are excited to enter our next chapter of growth.”
Michael Layman, managing director at TSG, added: “We are incredibly proud of what we have accomplished through our partnership with Kevin, the entire team at Nuun and Dan Nordstrom, Nuun’s early lead investor. Since our investment in 2017, we have collaborated with Dan to support the company’s expansion into additional product categories and into new channels, which have resulted in a best-in-class portfolio of hydration offerings and significant top-line growth. Today, Nuun is a major force in the healthy hydration space that resonates with all types of consumers, and we are confident it will continue to thrive with the backing of Nestlé Health Science.”
The transaction is expected to close in the second half of 2021.
Houlihan Lokey is acting as financial advisor and Perkins Coie is acting as legal advisor to Nuun.
Report Abusive Comment