TSG Consumer Partners, a private equity firm focused exclusively on the branded consumer sector, has announced that it has acquired a minority stake in hydration brand Nuun. The terms of the transaction were not disclosed.
Founded in Seattle, WA, Nuun is a provider of sports hydration with a following of athletes and fitness enthusiasts built up over the past 13 years. Pioneering the separation of electrolyte replacement from carbohydrates, Nuun’s low-sugar electrolyte tablet has become popular in bike, run, outdoor specialty and outdoor chain stores.
Nuun has continued to cultivate its product portfolio, recently expanding into clean-ingredient products for everyday hydration and endurance hydration.
Kevin Rutherford, CEO of Nuun, said, “We are thrilled to work with a high-caliber partner like TSG, which shares our vision and can leverage its deep experience in health and wellness to support our next stage of growth. The Nuun team is excited to build on our success as a brand delivering hydration that inspires people to move more, and further enhance the lives of millions of consumers who increasingly seek healthy fitness solutions. With TSG’s support, we will be even better equipped to expand our mission and message across the globe.”
Michael Layman, Managing Director at TSG, added, “We are very excited to partner with the Nuun management team and proud to support a company whose powerful mission and culture were recognized by Outside Magazine, which named Nuun to its 2017 ‘100 best places to work’ list. We have been impressed by Nuun’s momentum since its inception and its commitment to clean-ingredient, low-sugar products. We look forward to helping the Company educate the public on healthy hydration and wellness, grow into additional customer segments and expand its innovative electrolyte, vitamin and performance offerings beyond Nuun’s competitive athlete core customer.”
Imperial Capital, LLC served as financial adviser to Nuun.