Boxed Water is Better was acquired last week by Nyrad, LLC in a quiet transaction for one of the early players in non-plastic packaged water.
In a statement, Boxed Water CEO Daryn Kuipers said the deal gave the company continuity as it plans to expand distribution and manufacturing over the coming years. Cascade Partners guided the transaction and announced it on its website. No financial details were provided.
As for the buyers, Nyrad is described in the release simply as representing “a group of private investors.”
“I am incredibly proud of what this team has accomplished and look forward to serving more partners with Boxed Water’s environmentally responsible solutions,” said Kuipers. “I am grateful for the original seed investment and the new investment team that will allow us to grow. The brand remains dedicated to helping customers reduce their carbon footprint one box at a time.”
Founded in 2009, the Michigan-based brand was an early advocate for PET-free packaged water, touting itself as a more easily recyclable and transportable solution to single-use plastic, while supporting environmental projects like planting trees and beach clean-up.
That positioning proved prescient, as growing awareness of plastic waste — as well as limitations imposed by states like Massachusetts and California — opened the door for brands like Path, Flow, Liquid Death and others to popularize alternative packaging formats in the category.
The company was funded by Windquest Group, a private investment group chaired by Dick DeVos, son of Amway founder Richard DeVos and husband of former U.S. Secretary of Education Betsy DeVos.
In recent years the company took its positioning beyond sustainability, developing limited-edition releases with Universal Pictures (Jurassic World, Minions) and launching several flavored SKUs. The product moves through distributors Sysco, US Foods, KeHe and UNFI, as well as with DSD partners in select markets.
The transaction stands out as one of the few recent deals in packaged water (not including sparkling), aside from the multibillion dollar merger of BlueTriton and Primo.