Fireman Capital Partners LLC said Dec. 15 that it entered into a partnership with beverage platform Dunn's River Brands to buy the Sweet Leaf Tea and Tradewinds ready-to-drink tea brands from Nestlé Waters North America Inc., a unit of Swiss food group Nestlé SA.
Financial terms of the transaction were not disclosed.
The retail-focused private equity firm said that the purchase agreements for the transaction, which is expected to close by the end of 2017, were signed Dec. 15.
The acquisitions of the two tea brands will become a basis for future acquisitions of smaller high-growth brands by Dunn's River, Fireman Capital said.
Fireman Capital appointed McDermott Will & Emery LLP as legal advisor.