Zachert Private Equity has acquired Brands Within Reach (BWR) from NewAge, which will see it take the distribution rights of brands such as Evian and Nestea.
The deal – which is valued at $15 million – includes beverage and snack brands and various licensing and distribution rights from NewAge, a Colorado-based omni-channel sales and distribution company of better-for-you products.
The divested operations include BWR’s owned brands including Búcha, Aspen Pure and CoCo Libre and other assets and licensed brands such as Nestea, Volvic, Evian, Illy and Kusmi Tea. The machinery, equipment and other assets necessary for the distribution of these brands are also included.
According to NewAge, its divestiture will significantly improve profitability and enable it to focus on its growing direct-to-consumer business.
Previously known as New Age Beverages, the company acquired BWR in 2019 in which the latter became a wholly-owned subsidiary of NewAge.
The German-based private equity company says the acquisition will result in growth for the BWR brands. Following the purchase, Zachert plans to make further acquisitions in the US in the non-alcoholic beverage sector.
“We see a great potential in the portfolio of BWR. Our company focuses on the further development of undervalued companies. We know that with the necessary attention of restructuring, expansion, and further development, we will see significant growth for all of the BWR brands,” said Olaf Zachert, managing director of Zachert Private Equity.
Olivier Sonnois, CEO and founder of Brands Within Reach, added: “We look forward to collaborate with Olaf’s network, continue to focus on productivity gains and expand rapidly the scope and reach of the organisation and the brands in a focused and strategic manner with added investment.”
© FoodBev Media Ltd 2020