Unilever has signed an agreement to purchase Liquid IV, a US hydration powder mix brand, for an undisclosed sum.
Founded in 2012, Liquid IV offers a portfolio of electrolyte drink mixes such as Hydration, Energy and Sleep, which can be found in more than 30,000 stores across the US.
The brand utilises Cellular Transport Technology (CTT) in its products which it says enhances the rapid absorption of water and key nutrients into the bloodstream, with the intention of helping consumers “feel better, faster”.
Liquid IV claims that one serving of its non-GMO, vegan, gluten-free and soy-free range can provide up to 2-3 times the hydration of water alone.
In 2018, the California-based brand secured $5 million in a Series B funding round with plans to expand its distribution and product innovation.
Fabian Garcia, president of Unilever North America, said: “Liquid IV is an impressive and innovative brand in the fast-growing health, wellness and personal nutrition space. Liquid IV shares Unilever’s purpose to improve people’s health and wellbeing, as well as our ambition to create sustainable products that have a positive social impact.”
Brandin Cohen, Liquid IV founder and CEO, added: “We are excited to work together with Unilever to scale the brand and amplify Liquid IV’s mission to help people everywhere live better lives – to optimise the body, hydrate those in need, and better the planet.”
Following the transaction, Liquid IV will continue to be based in El Segundo, California, and led by Brandin Cohen, who will remain as CEO and founder of the firm. It will join Unilever’s portfolio of food and beverage brands such as Lipton, Knorr, Hellmann’s and Magnum.
The acquisition is subject to regulatory approvals and customary closing conditions.
© FoodBev Media Ltd 2020