STAMFORD, Conn. — Nestle Waters North America has inked a deal to acquire the maker of Sweet Leaf and Tradewinds beverage brands.
Nestle Waters said its acquisition of Austin, Texas-based Sweet Leaf Tea Co. — which was founded in 1998 — is subject to applicable regulatory approval and satisfaction of other customary closing conditions. The deal will expand the company's beverage portfolio of bottled water to include high-quality iced teas, lemonades and juice drinks.
The company also added that Sweet Leaf's staff will continue managing the Sweet Leaf and Tradewinds brands, which boasted combined total sales of more than $53 million in 2010, for further growth.
Nestle Waters made an initial investment in Sweet Leaf in March 2009.