On August 16, 2021, Munger, Tolles & Olson represented First Beverage Group in its purchase of a majority stake in Health-Ade, a well-known maker of kombucha. Additional investors also back the deal, including Manna Tree, a Vail, Colorado-based investment firm committed to improving human health through nutrition.
First Bev invests in innovative beverage brands and helps beverage companies grow and stand out in a highly competitive industry. By leveraging their financial and intellectual capital, First Bev forms true partnerships with their portfolio companies, bringing deep domain expertise in the beverage industry.
Under the leadership of its three founders, Health-Ade quickly evolved from selling its flagship kombucha at Los Angeles farmers markets to one of the most popular kombucha beverage brands with a retail turnover of more than $200 million annually.
Jack Belsito, managing partner of First Bev, will assume the role of CEO at Health-Ade, while the Health-Ade co-founders will fill other roles, working to cultivate further growth for the company.
Our Munger, Tolles attorneys advise private equity firms and their portfolio companies, public companies and other strategic investors, privately held companies, management teams, emerging growth companies, and entrepreneurs on complex transactions, including buy-side and sell-side mergers and acquisitions. Our representation of First Bev with this acquisition is an example of how we help our clients navigate complex transactions at the intersection between M&A and private funds.
The team consisted of attorneys Brett Rodda, David Lee, David Hong, David Goldman, Lexi Peacock, Zara Bari and Luc Artaiz.
Click below to view media coverage:
Leading Beverage Brand Health-Ade Announces Acquisition and Growth Financing
First Bev buys controlling stake in kombucha brand Health-Ade
First Bev Takes Controlling Stake in Health-Ade, Belsito Named CEO