This acquisition, which remains subject to applicable regulatory approval and satisfaction of other customary closing conditions, will expand the company's beverage portfolio of bottled water to include high-quality iced teas, lemonades and juice drinks.
The Sweet Leaf and Tradewinds brands' combined sales [image-nocss] totaled more than $53 million in 2010. The Austin-led staff will continue managing these brands for further growth.
"Sweet Leaf Tea is a company founded on premium ingredients and a commitment to good health and great flavors, in step with Nestle Waters North America's long history of providing healthful bottled water beverages," said Dan Costello, chief executive officer of Sweet Leaf Tea. "With Nestle Waters bringing increased capabilities, we will be able to offer Sweet Leaf and Tradewinds beverages to more people across the U.S."
Sweet Leaf Tea, founded in 1998, offers naturally sweetened products that are U.S. Department of Agriculture (USDA)-certified organic, made with pure cane sugar and premium tea leaves. Tradewinds, founded in 1993, delivers all-natural, brewed iced teas and tropical fruit juice drinks.
Nestle Waters produces six regional spring water brands in the United States, three international brands, and Nestle Pure Life, its nationally distributed purified bottled water. Sales for Nestle Waters North America topped $4 billion in 2010.
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