M&A Deal Summary

Vestar Capital Partners Acquires Celestial Seasonings

On November 1, 1988, private equity firm Vestar Capital Partners acquired beverage company Celestial Seasonings from Mondelez International

Acquisition Highlights
  • This is Vestar Capital Partners’ 1st transaction in the Beverages sector.
  • This is Vestar Capital Partners’ 3rd transaction in the United States.
  • This is Vestar Capital Partners’ 1st transaction in Colorado.
Investment Fate
  • Celestial Seasonings went public in 1994.
  • Celestial Seasonings merged with another company in 2000.

M&A Deal Summary

Date 1988-11-01
Target Celestial Seasonings
Sector Beverages
Buyer(s) Vestar Capital Partners
Sellers(s) Mondelez International
Deal Type Divestiture

Target

Celestial Seasonings

Boulder, Colorado, United States
Celestial Seasonings is the largest manufacturer and marketer of herb teas in the United States. Its leading brands of herb teas included Sleepytime, Lemon Zinger, Mandarin Orange Spice, Peppermint and a variety of other proprietary blends. The company also manufactures an array of specialty black teas and a line of Iced Delight iced teas, and entered into an agreement with Perrier Group of America under which Perrier manufactures and markets a full line of ready-to-drink Celestial Seasonings bottled iced tea products in the United States.

Search 215,074 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Vestar Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Vestar Capital Partners is a private equity firm that targets management buyouts and growth capital investments across North America and Europe in the consumer, business services, and healthcare sectors. The Firm looks to invest $50 to $150 million in transactions valued up to $1 billion. Specific areas of interest include food, apparel, household goods, retail, consumer services, industrial services, information services, manufacturing, distribution, transportation, financial services, media/communications, digital health media, and medical technology. Vestar Capital Partners was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 3 of 86
Sector: Beverages M&A 1 of 1
Type: Divestiture M&A Deals 1 of 3
State: Colorado M&A 1 of 4
Country: United States M&A 3 of 70
Year: 1988 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1988-11-01 Consolidated Cigar Co.

Fort Lauderdale, Florida, United States

Consolidated Cigar Co. manufactures, distributes and sells cigars in all segments of the industry: mass market cigars, handmade premium cigars and little cigars. It also makes smoking tobaccos for sale under its own brand names, for bulk sale to tobacconists as well as private-label brands for chain stores and wholesale distributors. The company's mass-market brand names include Dutch Masters, El Producto, Muriel and Antonio y Cleopatra. Its premium cigars are marketed under such brand names as Don Diego, H. Upmann, Primo Del Rey and Te-Amo.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1989-05-01 Perfect Fit Industries

Charlotte, North Carolina, United States

Perfect Fit Industries, Inc. is a niche designer, manufacturer and marketer of short run textile products.

Buy -

Seller(S) 1

SELLER

Mondelez International

Chicago, Illinois, United States

Category Company
Founded 2000
Sector Food
Employees90,000
Revenue 36.4B USD (2024)
DESCRIPTION

Mondelez International is a multinational confectionery, food, and beverage company. Mondelez was established in 2000 and is based in Chicago, Illinois.


DEAL STATS #
Overall 2 of 10
Sector: Beverages M&A 1 of 1
Type: Divestiture M&A Deals 2 of 9
State: Colorado M&A 1 of 1
Country: United States M&A 2 of 9
Year: 1988 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1988-05-06 Duracell

Bethel, Connecticut, United States

Duracell is a manufacturer and marketer of alkaline batteries. It markets its products throughout North America, China, Europe, Latin America, Africa and the Middle East. Duracell was established in 1924 and is based in Bethel, Connecticut.

Sell $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1995-01-05 General Foods

White Plains, New York, United States

General Foods was a food conglomerate whose products included Post cereals, Tang, Kool-Aid and Crystal Light powdered drinks, Birds Eye vegetables, Log Cabin syrup and Stove Top stuffings. General Foods was formed in 1895 and was phased out in 1990. The Company was based in White Plains, New York.

Buy -