SAN FRANCISCO--(BUSINESS WIRE)--TSG Consumer Partners (“TSG”), a leading private equity firm, today announced that its partner company, Nuun (the “Company”), an innovative 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 leading provider of healthy sports hydration that has built a loyal following of athletes and fitness enthusiasts over 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. Over the last several years, Nuun has continued to expand 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. “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.”
“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,” said Michael Layman, Managing Director at TSG. “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.
About TSG Consumer Partners
TSG Consumer Partners, LP is a leading private equity firm that partners with founders and management teams to build and accelerate growth for best-in-class consumer-facing businesses. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, fitness, beauty, personal care, household, apparel & accessories, and e-commerce sectors. Representative past and present partner companies include Backcountry, BrewDog, Canyon Bicycles, Duckhorn Wine Company, Dutch Bros, e.l.f. Cosmetics, IT Cosmetics, Planet Fitness, popchips, Power Stop, REVOLVE, Smashbox Cosmetics, Stumptown, thinkThin and vitaminwater. For more information, visit tsgconsumer.com.
About Nuun
Nuun is a hydration company with a mission to empower more movement. Nuun electrolyte tablets and powders provide functional hydration products optimized for exercise, daily health, travel, immune support, energy and rest. Clean and Non-GMO Project verified ingredients, a refreshing taste and low sugar make Nuun a favorite amongst active lifestyle consumers. Nuun products, like their tablets in their distinctive, colorful tubes, are convenient to carry and add to water, and are better for the environment than traditional bottled sports drinks. Consumers adding Nuun tablets to their reusable water bottles helped save the shipping of over 100 million pounds of water in 2018 alone. 16-year-old Nuun is the #1 selling sports drink supplement brand in running, cycling, outdoor and natural foods stores. The Seattle based company's culture and mission have been recognized by Outside Magazine, who named Nuun to its 2017, 2018, 2019 and 2020 ‘Best Places to Work’ lists.