Clean label plant-based milk and milk tea brand Three Trees has been acquired by Next in Natural for an undisclosed sum. The alt-milk maker joins a portfolio that includes Chameleon Cold Brew, Aura Bora, Organic Nuna and more.
“Shoppers are reading labels more closely than ever, and Three Trees wins that test every time,” said Next In Natural founder and CEO Jeff Lichtenstein in a statement. “Our Original is two ingredients, organic almonds and water, with four times the almonds. That’s not a marketing claim, it’s the product. Three Trees was my family’s go-to long before this deal.”
Three Trees Tenets: The company was founded in California in 2012 by Jenny Eu and has been built around USDA Organic, nutrient-dense nut and seed milks.
- It makes eight varieties of plant-based milk, including oil-free and unsweetened varieties as well as unique flavors like Black Sesame
- In 2025, Three Trees introduced bottled milk tea products in four varieties: Matcha, Jasmine, Oolong and Classic.
- Products have been sold in retailers including Whole Foods, Sprouts, Target and more.
What They Said: “Next In Natural’s mission of helping make the world a better place, organically, really resonated with me,” said Eu, in a press release. “They share my obsession with best-in-class products and my respect for the people who carry and drink them. Their team will help put Three Trees in front of many more people who care about what’s in their glass.”
About The Firm: Founded in 2017 by Lichtenstein, the former owner of sales advisory firm and distributor Gourmet Guru (acquired by UNFI), Next In Natural describes itself as a boutique hybrid holding company and venture incubator.
In 2024, Next in Natural evolved from a sales, marketing and operations support agency to an investor and acquirer. The platform acquired struggling sparkling tea brand Sound in 2024, followed by Aura Bora and kombucha maker Rowdy Mermaid in 2025.
- The firm seeks companies that are between $5 million to $50 million in revenue with a strong product but have reached an inflection point that requires support to realign and continue scaling the business.
Back To Three Trees: The deal marks the firm’s first entry into plant-based dairy and it intends to put its full team behind the brand and expand access to the product. That will see it team up with fellow portfolio mate Chameleon Cold Brew. The two companies plan to collaborate around pairing their products for a morning cup of joe.
“Great coffee deserves great milk,” said Kristine Laurel, Next In Natural COO. “Three Trees and Chameleon were made for each other. Our shared marketing, R&D and business development teams let both brands scale symbiotically while keeping Jenny’s quality-first mission front and center.”