Nestlé Waters North America today signed an agreement to acquire the Sweet Leaf Tea Company, including its Sweet Leaf and Tradewinds beverage brands.
The acquisition – which remains subject to regulatory approval and satisfaction of other customary closing conditions – will expand Nestlé Waters’ portfolio of bottled water to include high quality iced teas, lemonades and juices.
It follows an initial investment by Nestlé Waters in the Sweet Leaf brand in March 2009.
Based on premium ingredients, and with a commitment to good health and great flavours, the Sweet Leaf Tea Company’s approach is in line with Nestlé Waters North America’s long history of providing healthy bottled water beverages.
The acquisition will bring Nestlé Waters’ increased capabilities to the company’s operations, allowing it to make Sweet Leaf and Tradewinds beverages available to more people across the United States.
The Sweet Leaf Tea Company
Founded in 1998 by two childhood friends, the Sweet Leaf Tea Company, which is based in Austin, Texas, is known for its high quality teas and creative consumer communications.
Sweet Leaf naturally sweetened products are made with pure cane sugar and premium tea leaves and have been certified organic by the United States Department of Agriculture (USDA).
The Tradewinds brand, founded in 1993, offers authentic, all-natural, brewed iced teas and tropical fruit juice drinks.
With combined sales totalling more than USD 53 million in 2010, the two brands’ growth will continue to be managed by the Sweet Leaf Tea Company’s existing staff.
Nestlé Waters North America
Nestlé Waters North America is the leading bottled water company in the United States, with sales topping USD 4 billion in 2010.
It is committed to environmental stewardship, particularly in the areas of water use, energy and packaging.