M&A Deal Summary

Coca-Cola Acquires Odwalla

On October 30, 2001, Coca-Cola acquired beverage company Odwalla from L Catterton Partners, EagleTree Capital and Bain Capital Private Equity for 181M USD

Acquisition Highlights
  • This is Coca-Cola’s 4th transaction in the Beverages sector.
  • This is Coca-Cola’s 8th largest (disclosed) transaction.
  • This is Coca-Cola’s 4th transaction in the United States.
  • This is Coca-Cola’s 2nd transaction in California.
Investment Fate
  • Odwalla was divested to a consortium of strategic buyers in 2021.

M&A Deal Summary

Date 2001-10-30
Target Odwalla
Sector Beverages
Buyer(s) Coca-Cola
Sellers(s) L Catterton Partners
EagleTree Capital
Bain Capital Private Equity
Deal Type Add-on Acquisition
Deal Value 181M USD

Target

Odwalla

Dinuba, California, United States
Odwalla is a producer of all-natural, super-premium juices and smoothies, dairy-free shakes, natural spring water, and food bars serving thousands of accounts coast to coast. Odwalla was formed in 1980 and is based in Dinuba, 93618, California.

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Buyer(S) 1

Buyer

Coca-Cola

Atlanta, Georgia, United States

Category Company
Founded 1886
Sector Beverages
Employees79,100
Revenue 47.1B USD (2024)
DESCRIPTION
Coca-Cola's corporate headquarters in Atlanta, Georgia.
Coca-Cola's corporate headquarters in Atlanta, Georgia.

Coca-Cola is a global brand and producer of beverages that operates Coca-Cola, Diet Coke, Coca-Cola Light, Coca-Cola Zero, Sprite, Fanta, Minute Maid, Powerade, Aquarius, Dasani, Vitaminwater, Georgia, Simply, Minute Maid Pulpy, Del Valle, Ayataka, Bonaqua/Bonaqa, and Schweppes. Coca-Cola dates back to 1886 and is based in Atlanta, Georgia.


DEAL STATS #
Overall 5 of 19
Sector: Beverages M&A 4 of 18
Type: Add-on Acquisition M&A Deals 5 of 11
State: California M&A 2 of 7
Country: United States M&A 4 of 12
Year: 2001 M&A 1 of 1
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1995-01-01 Barq s

United States

Barq's, Inc. is a beverage company.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-21 Fuze Beverages

Englewood Cliffs, New Jersey, United States

Fuze manufactures and markets vitamin infused juice drinks and teas targeted at health conscious consumers. The company's products offer vitamins and minerals and are low in carbohydrates and calories. Over the past two years, the company has grown to more than 50 employees, with over 220 distributors across 48 states and the Caribbean.

Buy -

Seller(S) 3

SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1989
PE ASSETS 37.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 6 of 105
Sector: Beverages M&A 1 of 5
Type: Add-on Acquisition M&A Deals 2 of 49
State: California M&A 1 of 12
Country: United States M&A 6 of 76
Year: 2001 M&A 2 of 2
Size (of disclosed) 9 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-10-01 Healthy Pet

Shelton, Connecticut, United States

Healthy Pet Corp. is an operator of veterinary hospitals in the eastern United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-06-01 Reliance Protectron Security Services

Edmonton, Alberta, Canada

Reliance Protectron Security Services is a provider of home and business security systems serving 77,000 customers in Canada.

Buy $115M
SELLER

EagleTree Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 4.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

EagleTree Capital is an independent private equity and investment firm focused on mid-market leveraged buyouts. The Firm's buyout group looks to invest $50 to $200 million to support acquisitions of profitable companies in the media/communications, consumer products, and water/industrial products and services sectors. EagleTree Capital was formerly known as Wasserstein Partners, an investment firm formed by Bruce Wasserstein, the late CEO of investment bank Lazard Freres. EagleTree Capital is based in New York City.


DEAL STATS #
Overall 5 of 30
Sector: Beverages M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 16
State: California M&A 1 of 3
Country: United States M&A 4 of 28
Year: 2001 M&A 1 of 1
Size (of disclosed) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-05-03 Odwalla

Dinuba, California, United States

Odwalla is a producer of all-natural, super-premium juices and smoothies, dairy-free shakes, natural spring water, and food bars serving thousands of accounts coast to coast. Odwalla was formed in 1980 and is based in Dinuba, 93618, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-05-01 Imax

Mississauga, Ontario, Canada

Imax is an entertainment technology companies, which emphasizes film and digital imaging technologies including giant-screen images, 3-D presentations, post-production, and digital projection. Imax was incorporated in 1967 and is based in Mississauga, Canada.

Sell -
SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 5 of 152
Sector: Beverages M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 41
State: California M&A 1 of 14
Country: United States M&A 5 of 87
Year: 2001 M&A 3 of 3
Size (of disclosed) 42 of 45
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-10-30 Stream International

Wellesley, Massachusetts, United States

Stream Global Services (formerly Global BPO Services) is a global provider of business process outsourcing, delivering a range of services, including technical support, customer service, sales and customer retention.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-01 Seqens

Ecully, France

Seqens is a global diversified chemicals Group that produces and distributes essential chemicals that are used in everyday products. Seqens offers a broad portfolio of active ingredients, pharmaceutical intermediates, and specialty ingredients, develops and industrializes the most demanding molecules, and relies on its ability to innovate, develop and implement the best available technologies. Seqens was founded in 2003 and is based in Ecully, France.

Buy -