STAMFORD, Conn., May 5, 2011 /PRNewswire/ -- Nestle Waters North America Inc. has signed an agreement to acquire the Austin-based Sweet Leaf Tea Company which includes the Sweet Leaf® and Tradewinds® beverage brands. Nestle Waters made an initial investment in Sweet Leaf in March 2009.
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 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 Company. "With Nestle Waters bringing increased capabilities, we will be able to offer Sweet Leaf and Tradewinds beverages to more people across the US."
Sweet Leaf Tea Company, founded in 1998, is known as much for its creativity and passion for community as it is for its high quality teas. Sweet Leaf Tea naturally sweetened products are USDA certified organic, made with pure cane sugar and premium tea leaves. Tradewinds, founded in 1993, delivers authentic, all-natural, brewed iced teas and tropical fruit juice drinks.
About Nestle Waters North America Inc.
With 35-years of experience with healthful hydration in the bottled water segment, Nestle Waters produces six regional spring water brands in the U.S., three international brands, and Nestle Pure Life, its nationally distributed purified bottled water. Sales for Nestle Waters North America topped $4 billion in 2010. The company's dedication to quality, employee development, seeking to bring shared value to communities, and its commitments to environmental stewardship, especially in the areas of water use, energy and packaging, has led Nestle Waters to the number one bottled water position in the U.S.
SOURCE Nestle Waters North America