Los Angeles, CA – December 22, 2010 – First Beverage Group today announced that Tata Global Beverages, the world’s second largest tea company and owner of some of North America’s most well-known beverage brands, including Tetley Tea and Eight O’Clock Coffee, has acquired a majority of First Beverage Group’s shares in the functional water company, Activate.
The move follows Tata’s commitment in October 2010 of $21 million in growth capital to Activate. First Beverage made its initial investment in Activate in June, 2009 and the company will maintain a significant stake in Activate, along with The Tornante Company, the Eisner family and several key industry partners.
“We’re extremely proud to make this next transition with Tata, who will serve as an excellent beverage industry partner for Activate’s growth going forward,” said Bill Anderson, Founder and Chairman of First Beverage. “Tata will bring a range of strategic and long-term solutions to the company which will help accelerate Activate’s broader brand development. Between Tata, the Eisner family and Dan Holland and his team, the Activate brand is extremely well-positioned to succeed in the marketplace.”
Peter Unsworth, Group CEO of Tata Global Beverages said “We have ambitious growth plans and a vision to become the leader in the ‘good for you’ beverage sector. This investment is a further step on our strategic journey to bring brands and products to consumers that meet their health & wellness, convenience and sustainability needs."
In 2007, the founders of The Rising Beverage Company, LLC, doing business as Activate, helped develop a new approach to getting vitamins into drinks. Activate employs a unique and patented design in which vitamins and nutrients are stored as powder in a chamber inside the cap. When the cap is twisted, the chamber opens, allowing the fresh ingredients to drop into the water below. Activate offers a convenient way to get a healthy dose of the nutrients your body needs. For more information, please visit www.activatedrinks.com.
About First Beverage Group
First Beverage Group is a full-service financial services firm dedicated exclusively to the beverage industry. First Beverage focuses on providing growth solutions to leading operators in all segments of the beverage industry through a comprehensive range of products, including private equity; M&A advisory; strategic and operational consulting; and real estate capital through sale-leasebacks and buy/build-to-suit transactions. Headquartered in Los Angeles with offices in Atlanta, St. Louis, Phoenix and Portland, the First Beverage team has over 200 years of experience in the beverage industry. For more information, please visit the company’s website, www.firstbev.com.
About Tata Global Beverages
Tata Global Beverages is a global beverage business and the world’s second largest tea company. The group’s annual turnover is $1.5billion and it employs around 3,000 people in over 40 countries worldwide. The company focuses on ‘good for you’ beverages and has a stable of innovative regional and global beverage brands, including: Tata Tea, Tetley, Himalayan natural mineral water, Good Earth and Eight O’clock coffee. For more information, please visit www.tataglobalbeverages.com.
About The Tornante Company
Founded in 2005 by Michael Eisner, The Tornante Company is a privately held company that invests in, acquires, and operates companies in media and entertainment. Tornante’s companies include Activate, The Topps Company, Inc., Vuguru, Diversion, and Tornante Animation.