Houlihan Lokey Advises Nuun

Houlihan Lokey is pleased to announce that Nuun, a portfolio company of TSG Consumer Partners, LP (TSG), has been acquired by Nestlé Health Science. The transaction closed 1 July 2021.

Founded in 2004 with a mission to empower more movement, Nuun is a leading provider of healthy hydration products that has built a loyal following among active lifestyle consumers. Nuun’s effervescent electrolyte tablets and powders are low in sugar, utilize only clean and Non-GMO Project verified ingredients, and are optimized for multiple need states, including exercise, daily health, travel, immune support, energy, and rest. With at least 10 servings in each colorful tube, Nuun products are convenient to carry and add to water and are better for the environment than traditional bottled sports drinks. Nuun can be found on its DTC website and in the world’s leading online, FDM, specialty, and club retailers, including Amazon, Target, Walmart, Whole Foods Market, REI, Sam’s Club, Walgreens, and many more.

TSG Consumer Partners, LP, is a leading private equity firm that partners with founders and management teams to build and accelerate growth for best-in-class consumer-facing businesses. Since its founding in 1987, TSG has been an active investor in the food, beverage, restaurant, fitness, beauty, personal care, household, apparel and accessories, and e-commerce sectors. Representative past and present partner companies include Backcountry, BrewDog, Canyon Bicycles, Duckhorn Wine Company, Dutch Bros, e.l.f. Cosmetics, IT Cosmetics, Planet Fitness, popchips, Power Stop, REVOLVE, Smashbox Cosmetics, Stumptown, thinkThin, and vitaminwater.

Nestlé Health Science, a leader in the science of nutrition, is a globally managed business unit of Nestlé. They are committed to redefining the management of health, offering an extensive portfolio of science-based consumer health, medical nutrition, pharmaceutical therapies, and vitamin and supplement brands. Nestlé Health Science believes in empowering healthier lives through nutrition. Their extensive research network, both within Nestlé’s R&D centers as well as with external partners, provides the foundation for products that can help people to live their healthiest lives. Headquartered in Switzerland, Nestlé Health Science has more than 7,000 employees around the world, with products available in more than 160 countries.

Houlihan Lokey served as the exclusive financial advisor to Nuun and assisted in structuring and negotiating the transaction on its behalf. This deal underscores Houlihan Lokey’s deep expertise in the vitamin, mineral, and supplement sector, following the sales of SmartyPants Vitamins to Unilever, Care/of to Bayer, and Zarbee’s to Johnson & Johnson. The transaction also strengthens the firm’s track record of working with the most innovative and disruptive brands in the health and wellness industry.