Investment Summary

First Bev, Manna Tree and Coca-Cola Exits Health-Ade Kombucha

On July 22, 2025, Generous Brands invested in beverage company Health-Ade Kombucha from First Bev, Manna Tree and Coca-Cola

Investment Highlights
  • This is Generous Brands’ 1st transaction in the Beverages sector.
  • This is Generous Brands’ 1st transaction in the United States.
  • This is Generous Brands’ 1st transaction in California.

Investment Summary

Date 2025-07-22
Target Health-Ade Kombucha
Sector Beverages
Investor(s) Generous Brands
Sellers(s) First Bev
Manna Tree
Coca-Cola
Deal Type Add-on Acquisition
Advisor(s) Lazard (Financial)
Baker & McKenzie (Legal)

Target

Health-Ade Kombucha

Torrance, California, United States
Health-Ade Kombucha offers probiotic tea in 12 flavors: Original, Ginger-Lemon, Cayenne Cleanse, Pomegranate, Pink Lady Apple, Carrot, Beet, California Grape, Maca-Berry, Sweet Thorn, Power Greens, and Holiday Cheers. Health-Ade Kombucha was founded in 2012 and is based in Torrance, California.

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Investor(S) 1

Investor

Generous Brands

Bakersfield, California, United States

Category Company
Sector Consumer Products
DESCRIPTION

Generous Brands is a provider of chilled juice, smoothies, shakes, and protein drinks. Generous Brands is based in Bakersfield, California.


DEAL STATS #
Overall 1 of 1
Sector: Beverages M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1

Seller(S) 3

DESCRIPTION

First Bev is a private investment firm focused on the beverage industry. First Bev 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 5 of 5
Sector: Beverages M&A 4 of 4
Type: Add-on Acquisition M&A Deals 4 of 4
State: California M&A 2 of 2
Country: United States M&A 4 of 4
Year: 2025 M&A 1 of 1
PREVIOUS 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 -
SELLER
DESCRIPTION

Manna Tree Partners is a specialist investor focused on opportunities across the food supply chain. The Firm targets investments across the US and generally pursues small to mid-sized companies looking for a partner to help accelerate growth. Manna Tree Partners was established in 2018 and is headquartered in Vail, Colorado.


DEAL STATS #
Overall 2 of 2
Sector: Beverages M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-09 Vital Farms

Austin, Texas, United States

Vital Farms is a manufacturer and marketer of poultry products. Vital Farms products include Pasture-raised butter, Pasture-raised eggs in dozens, half-dozens and restaurant flats. Vital Farms was founded in 2007 and is based in Austin, Texas.

Sell -
SELLER

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 11 of 11
Sector: Beverages M&A 9 of 9
Type: Add-on Acquisition M&A Deals 1 of 1
State: California M&A 4 of 4
Country: United States M&A 6 of 6
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 BODYARMOR SuperDrink

Beverly Hills, California, United States

BODYARMOR SuperDrink is a producer of premium sports drinks. BODYARMOR SuperDrink was founded in 2010 and is based in Beverly Hills, California.

Buy $5.6B