TSG Consumer Partners (TSG), a leading private equity firm, has entered into an agreement for its stake in hydration specialist Nuun to be acquired by Nestlé Health Science.
The terms of the transaction, which is expected to close in the second half of 2021, were not disclosed.
Back in 2017, TSG took a minority stake in Nuun. At the time the company noted that it was ‘impressed by Nuun’s momentum since its inception and its commitment to clean-ingredient, low-sugar products.’
Following the announcement of TSG’s sale of its stake, Kevin Rutherford, CEO of Nuun, said “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.
“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.”
Michael Layman, Managing Director at TSG, said “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.
“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.”
He continued, “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.”
‘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.’
www.nuunlife.com
www.tsgconsumer.com
