Nestlé’s health science arm has agreed to acquire sports hydration tablet brand Nuun from TSG Consumer Partners after its transformation into a “household brand”.
The deal comes four years after TSG picked up a minority stake in the electrolyte tablet seller, which expanded its portfolio under the firm’s ownership to cover immunity, rest and energy products.
Nuun CEO Kevin Rutherford said, “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.”
Michael Layman, managing director at TSG, added, “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.
Nestlé has recently expanded its health science business through a $5.75bn acquisition of vitamins and nutritional supplement The Bountiful Co. from KKR.
TSG closed its eighth flagship fund on $4bn of capital commitments in 2019, and has since taken up stakes in yoga fitness studio operator CorePower Yoga, Joe Hudson’s Collision Centers and Pathway Vet Alliance.
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