San Francisco-based private equity firm TSG Consumer Partners (TGS) announced this week that it will sell the hydration supplement company Nuun, one of its portfolio brands, to Nestlé Health Science. Terms of the deal were not disclosed, but TGS said the acquisition is expected to finalize in the third quarter of this year.
Founded in Seattle in 2004, Nuun produces dissolvable electrolyte tablets marketed toward athletes and other active lifestyle participants. The company segments its offerings into categories like Sport, Immunity, Rest, and Energy to suit the needs of consumers that span a range of activity levels, from casual participants to endurance athletes.
“Every day, health-conscious consumers are becoming more aware of how functional hydration products can add to their overall wellbeing,” said Greg Behar, CEO of Néstle Health Science. “That growing awareness is reflected in the steady growth of the [functional hydration] category. We look forward to combining our companies’ expertise to bring Nuun to more people around the world.”
In addition to Nuun, Néstle Health Science’s nutrition-focused portfolio includes brands like Boost, Garden of Life, and Vital Proteins, among about a dozen others. Last month, the company announced plans to buy even more portfolio brands in a $5.75 million deal with The Bountiful Co. Companies specified in that transaction include Nature’s Bounty and vitamin brand Solgar, among others.
“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.”