M&A Deal Summary

Nestle USA Acquires Essentia Water

On March 5, 2021, Nestle USA acquired beverage company Essentia Water from Castanea Partners and First Bev for 192M USD

Acquisition Highlights
  • This is Nestle USA’s 2nd transaction in the Beverages sector.
  • This is Nestle USA’s largest (disclosed) transaction.
  • This is Nestle USA’s 3rd transaction in the United States.
  • This is Nestle USA’s 1st transaction in Washington.

M&A Deal Summary
Date 2021-03-05
Target Essentia Water
Sector Beverages
Buyer(s) Nestle USA
Sellers(s) Castanea Partners
First Bev
Deal Type Add-on Acquisition
Deal Value 192M USD

Target

Essentia Water

Bothell, Washington, United States
website
Essentia Water is a provider of enhanced, alkaline water. Essentia uses a proprietary process that results in electrolyte-enhanced water with an alkaline 9.5 pH. Essentia hydrates restore and balances to promote optimal health. Led by founder Ken Uptain, the Company has grown rapidly in recent years, expanding distribution across North America. Essentia Water was founded in 1998 and is based in Bothell, Washington.

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Buyer(S) 1

Buyer

Nestle USA

Glendale, California, United States

website

Category Company
Founded 1990
Sector Food
DESCRIPTION

Nestlé USA makes delicious, convenient and nutritious food and beverage products that make good living possible.

DEAL STATS #
Overall 3 of 3
Sector (Beverages) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Washington) 1 of 1
Country (United States) 3 of 3
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-09 Buitoni Food

Stamford, Connecticut, United States

Buitoni Food Co. is a U.S. manufacturer and marketer of pasta, sauces and cheese to the retail channel under the Buitoni® brand. Buitoni Food Co. is based in Stamford, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-15 Chameleon Organic Coffee

Austin, Texas, United States

Chameleon Organic Coffee is a purveyor of bottled cold-brew coffee. Providing a one-of-a-kind, completely customizable coffee experience, Chameleon uses certified organic, responsibly sourced coffee. Chameleon's proprietary brewing process produces a super smooth, less acidic, highly caffeinated coffee that can be enjoyed hot or cold. Chameleon Organic Coffee was founded in 2010 and is based in Austin, Texas.

Sell -

Seller(S) 2

SELLER

Castanea Partners

Newton, Massachusetts, United States

Investor Investor Investor

website

Category Private Equity Firm
Founded 2001
PE ASSETS 775M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Castanea Partners is a private equity firm that targets investments in established, small to mid-sized companies valued up to $250 million. The Firm looks for businesses with strong management and significant competitive advantages. Sectors of interest include publishing, information services, education/training, consumer brands, specialty retail, and marketing services. Castanea prefers control investment situations and looks to commit between $15 and $150 million per transaction. Castanea Partners was formed in 2001 and is based in Newton, Massachusetts.

DEAL STATS #
Overall 20 of 23
Sector (Beverages) 2 of 2
Type (Add-on Acquisition) 11 of 12
State (Washington) 1 of 1
Country (United States) 20 of 23
Year (2021) 1 of 2
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-10 Tatcha

San Francisco, California, United States

Tatcha LLC is a luxury skincare brand with a collection of products inspired by timeless Japanese beauty rituals. Tatcha offers a line of serums, moisturizers, mists, exfoliants, and cleansers. Tatcha LLC was founded in 2009 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 CURiO

Minneapolis, Minnesota, United States

CURiO is a manufacturer and seller of personal care and home fragrance products. CURiO is based in Minneapolis, Minnesota.

Sell -
SELLER

First Bev

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Size Small
Type Sector Focused
DESCRIPTION

First Bev is the private equity group of the financial advisory firm, First Beverage Group. First Beverage Ventures looks to invest in emerging beverage companies throughout the US. The Firm pursues companies that can benefit from value-added services including support with distribution, supply chain, strategic planning, marketing, operations, finance, board development and human resources. Target companies typically have $1 to $15 million in revenue. First Bev was formed in 2005 and is based in Los Angeles, California.

DEAL STATS #
Overall 4 of 4
Sector (Beverages) 3 of 3
Type (Add-on Acquisition) 3 of 3
State (Washington) 1 of 1
Country (United States) 3 of 3
Year (2021) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 Drizly

Boston, Massachusetts, United States

Drizly is a technology company powering shopping experience for beer, wine, and liquor. Drizly was founded in 2012 and is based in Boston, Massachusetts.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-16 G Fuel

Hauppauge, New York, United States

G Fuel provides clients with performance-driven alternatives to standard energy drink products. The company's products include Energy Formula, ready-to-drink cans, and powdered Hydration Formula. G Fuel is based in Hauppauge, New York.

Buy -
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