Private equity firm Paine Schwartz Partners has acquired Californian cold-pressed, organic beverage brand Suja Life from Goldman Sachs Asset Management and co-investors.
The deal – which was made for an undisclosed sum – comes after a record-breaking year for Suja Life in both revenue and profit and its new ownership will reportedly enable the brand’s next phase of growth.
Shortly after launching in 2012, Suja claims it became the nation’s leading organic, cold-pressed juice brand.
Made using high pressure processing, the brand’s portfolio includes cold pressed juices, functional shots and sparkling juices, which are available at major grocery and natural food stores nationwide.
“I’m excited to see Suja achieve so much success after the almost ten-year journey of this amazing brand and I could not be more excited for the next chapter,” said James Brennan, Suja co-founder.
He added: “Suja has experienced two phases of rapid growth, the initial years after the brand was founded and then again since 2018. The Suja team has delivered fantastic results in recent years.”
Nicole Agnew, managing director in Goldman Sachs Asset Management, added: “Suja’s success has led them to become a household brand, and we’re thrilled to have been part of the journey.”
Suja says it chose Paine Schwartz as its new partner due to its shared purpose in offering consumers better-for-you plant-based options.
“We are incredibly excited to partner with the Suja team at this inflection point in the company’s growth trajectory,” said Kevin Schwartz, CEO of Paine Schwartz Partners.
“Suja sits at the centre of our company’s investment ethos – products that deliver great-tasting, functional ingredients that are as healthy for you as they are delicious. We look forward to supporting the company in this next phase of growth, investing behind new products and expanding distribution to bring Suja to even more consumers everywhere.”
In 2019, Paine Schwartz closed a sustainable food chain fund at $1.43 billion, marking its largest fund to date.
© FoodBev Media Ltd 2021
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