Nestle Waters to acquire Sweet Leaf Tea Co.
May 6, 2011
by Eric Schroeder
STAMFORD, CONN. — Nestle Waters North America has reached agreement to acquire Austin, Texas-based Sweet Leaf Tea Co. Financial terms were not disclosed.
The decision to acquire Sweet Leaf comes a little more than two years after Nestle made an initial $15.6 million investment in the maker of iced teas, lemonades and juices.
“The acquisition will bring Nestle 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,” Nestle Waters said.
Sweet Leaf Tea was founded in 1998. Its two top brands — Sweet Leaf and Tradewinds — generated combined sales of more than $53 million in 2010. The Sweet Leaf brand includes naturally sweetened products made with pure cane sugar and tea leaves, while the Tradewinds brand features all-natural, brewed iced teas and tropical fruit juice drinks.