Sparkling beverage brand Sound is back in supply after its acquisition this month by operating partner Next in Natural, a New York-based private equity firm specializing in better-for-you CPG.
According to the company, Next in Natural CEO Jeff Lichtenstein has been appointed Chairman of the Board for the brand “to assist with strategic guidance” as Sound founders Salim Najjar and Tommy Kelly remain with the business. Financial terms of the deal were not disclosed.
“Sound epitomizes what’s next in natural – delicious, organic, clean, functional ingredients, and no sugar are aligned with consumer demand for just that, in a convenient format,” Lichtenstein said in a release. “Salim and Tommy have an amazing story having met as Nuclear engineers that decided to make the mother of all pivots, into Organics! They are very talented executives, and the Next In Natural shared services platform is designed to help them thrive with the cross-functional comprehensive support team and resources that NeNa surrounds them with.”
Lichtenstein previously founded Gourmet Guru, which was acquired by UNFI, and has worked to scale brands such as Chobani, Stumptown and Hu.
“Sound is on track to propel the company’s growth by leveraging Next In Natural’s cross-functional team and expertise in production, R&D, business development, and marketing, which will help us evolve and reach new audiences,” Kelly added in the release.
The company was founded in 2015 and initially produced a line of carbonated teas in glass bottles, before pivoting to cans with a rebrand in 2021 that repositioned the drinks as sparkling waters made with tea and botanicals.
The acquisition follows a quiet period from the brand, which had ceased posting on social media last fall while consumers have reported out of stocks across channels during that period. But as of today Sound is back in stock online via its website, and the company said it is also available in select retailers nationwide and online via Thrive Market.
Next In Natural, which focuses on operations support and strategy for food and beverage companies, announced in March that it had expanded its M&A division, appointing Keto & Co. founder Ted Tieken as Chief Future Officer. In a press release, the firm said its ideal candidates for acquisition are in the $5-$50 million revenue range and “preferably in the beverage and salty snack space, with founders at an inflection point” with “a proven product but need support reengineering or scaling their business.”